Question

Market supply is found by Group of answer choices horizontally summing the relevant part of each individual producer's marginal cost curve. vertically summing each individual producer's average total cost curve. horizontally summing each individual producer's average total cost curve. vertically summing the relevant part of each individual producer's marginal cost curve.

Answer 1

Market supply is found by horizontally summing the relevant part of each individual producer's marginal cost curve.

• As a result, the firm's supply curve for the output is represented by the marginal cost curve (MC); as the price of the output rises, the firm is prepared to produce and sell a bigger quantity.
• The supply curve for the industry is created by combining the MC curves for each firm manufacturing the product.
• Producers find it increasingly lucrative to raise the quantity they offer for sale as prices rise as a result of rising demand for a commodity; as a result, the supply curve will slope upward from left to right.

Is market supply curve horizontal or vertical?

• On a graph, a market supply curve is depicted by the price of a good running vertically down one side and the quantity running horizontally down the other.

• Given that a supply curve typically slopes upward to the right.

Learn more about marginal cost curve (MC) brainly.com/question/13933442

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