Consider the Supply Curve for a Product Such as Shipping

question 65

Multiple Choice

Consider the supply curve for a product such as shipping crates,which shows how many crates producers want to sell at each possible price.Alternatively,we could view this supply curve in the following way:

• A)for each quantity of shipping crates,the supply curve shows the economic surplus generated by the provision of that ticket.
• B)for each possible price,the supply curve shows the economic surplus generated by the provision of those crates.
• C)for each quantity of shipping crates,the supply curve shows the extent of market inefficiency and deadweight loss.
• D)for each quantity of shipping crates,the supply curve shows the value that consumers place on that particular crate.
• E)for each quantity of shipping crates,the price on the supply curve shows the additional cost to the producer of supplying that crate.

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Definitions:

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