Economics Exam 1
Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!
The market supply curve
represents the sum of the quantities supplied by all the sellers at each price of the good
When the price of a good or service changes,
there is a movement along a given demand curve
verb
An action word
Which of these statements best represents the law of supply?
When the price of a good decreases, sellers produce less of the good
A decrease in the price of a good will
decrease in quantity supplied
The market demand curve
is the sum of all individual demand curves