a seller’s willingness to sell is measured by the seller’s cost of production. r
ID: 1213470 • Letter: A
Question
a seller’s willingness to sell is
measured by the seller’s cost of production.
related to her supply curve, just as a buyer’s willingness to buy is related to his demand curve.
less than the price received if producer surplus is a positive number.
All of the above are correct.
a.measured by the seller’s cost of production.
b.related to her supply curve, just as a buyer’s willingness to buy is related to his demand curve.
c.less than the price received if producer surplus is a positive number.
d.All of the above are correct.
Explanation / Answer
All of the above are correct.
Explanation: The quantities that a supplier is willing to supply depends upon the cost of production and the market price. The supply curve shows the quantities that a supplier is willing to supply at different price points. Also, a supplier would like to supply less than the price received to earn a positive producer surplus. So, all statements are correct.
All of the above are correct.
Explanation: The quantities that a supplier is willing to supply depends upon the cost of production and the market price. The supply curve shows the quantities that a supplier is willing to supply at different price points. Also, a supplier would like to supply less than the price received to earn a positive producer surplus. So, all statements are correct.
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