In Cases Where Sellers Have a Fixed Number of Units

question 24

True/False

In cases where sellers have a fixed number of units of a product to sell, the supply curve will be horizontal.

---

Definitions:

Marginal Cost

The overhead added by producing an extra unit of a product or service.

Profit-Maximizing

A strategy or approach taken by businesses to adjust their price and output levels to achieve the highest possible profit.

Seller

An individual or entity that offers goods or services to others in exchange for compensation.

Graph

A diagram representing data visually using lines, bars, or other symbols.