Suppose There Are Four Firms That Are Each Willing to Sell

question 123

Multiple Choice

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A $6, Firm B $7, Firm C $10, and Firm D $12. If the market price is $11 then the market supply for this good will be

• A) 3 units.
• B) 4 units.
• C) 1 unit.
• D) 2 units.

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