Which of the following is a correct description of the supply curve?
i.The supply curve is also the marginal cost curve.
ii.The supply curve shows the dollars' worth of other goods that we must sacrifice to produce another unit of a good.
iii.The supply curve shows the additional cost of producing another unit of a good.
A) i only
B) i and ii
C) ii and iii
D) i, ii, and iii
E) ii only

Question

Quizplus · Accepted Answer

The supply curve is often considered the same as the marginal cost curve (i), it represents the opportunity cost of producing another unit (ii), and it shows the additional cost of producing another unit (iii).

Which of the Following Is a Correct Description of the Supply