Figure: Increasing Costs 
Refer to the figure. If an industry consists of two firms, Firm 1 and Firm 2, as shown in the diagram, what is the industry's quantity supplied at a price of $7 and $9?
Definitions:
Acid-Test Ratio
A financial metric used to determine a company's short-term liquidity position, calculated by dividing current assets excluding inventory by current liabilities.
Working Capital
The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency.
Marketable Securities
Financial instruments and assets that are easily convertible into cash, typically with high liquidity and short maturities.
Current Ratio
A financial metric indicating the capacity of a business to meet its obligations due within the next year, determined by dividing its current assets by its current liabilities.
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