In a Market,to Find the Total Amount Supplied at a Particular

question 258

Multiple Choice

In a market,to find the total amount supplied at a particular price,

• A) we must add up all of the amounts that firms are willing and able to supply at that price.
• B) we must take the average of the amounts that firms are willing and able to supply at that price.
• C) we must add all of the costs that firms incur to supply the product at that price.
• D) all determinants of demand must be taken into account.

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Definitions:

Population

The total number of people inhabiting a specific area or region.

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The observation of behavior in a real-world setting.