The supply curve for a product reflects the
A)willingness to pay of the marginal buyer.
B)quantity buyers will ultimately purchase of the product.
C)cost to sellers of producing the product.
D)seller's profit from producing the product.

Question

Quizplus · Accepted Answer

The supply curve for a product reflects the cost to sellers of producing the product. This is because as the cost of producing the product increases, suppliers may not be willing to produce as much, resulting in a decrease in quantity supplied and a shift in the supply curve. Therefore, the supply curve represents the relationship between the price of the product and the amount of the product that suppliers are willing and able to produce and sell, given the cost of production.

The Supply Curve for a Product Reflects the