The supply curve of a good or service is the same as
A) the demand curve.
B) the marginal benefit curve.
C) the marginal cost curve.
D) the total surplus curve.
E) None of the above answers is correct.

Question

Quizplus · Accepted Answer

The supply curve represents the amount of a good or service that producers are willing and able to offer for sale at various prices. It is determined by the marginal cost of production, which is the additional cost of producing each additional unit of output. Therefore, the supply curve is the same as the marginal cost curve. The demand curve represents the willingness and ability of consumers to buy a good or service at different prices, while the marginal benefit curve represents the additional benefit that consumers derive from consuming each additional unit of the good or service. The total surplus curve represents the total welfare generated by the market, which is the difference between consumer surplus and producer surplus.

The Supply Curve of a Good or Service Is the Same