In order to derive the market supply curve from individual supply curves, we add up the select one:

a. various prices that individual sellers are charging for the product.

b. various quantities that individual sellers want to sell at specific price levels.

c. total number of sellers in the market at a given time.

d. costs that all individual sellers incur in producing the product.

Question

Justin

Business

26 April, 07:16

In order to derive the market supply curve from individual supply curves, we add up the select one:

a. various prices that individual sellers are charging for the product.

b. various quantities that individual sellers want to sell at specific price levels.

c. total number of sellers in the market at a given time.

d. costs that all individual sellers incur in producing the product.

+2

Answers (1)

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Meredith Powell · Answer 1

The correct option is B. The market supply curve is an upward sloping curve which shows the relationship between price and quantity supplied. The market supply curve is derived by adding together the quantities that the suppliers are willing to supply at specific prices. In order to derive the market supply curve from individual supply curve, we have to add together the various quantities that individual sellers want to sell at specific price levels.