A curve that shows us the total quantity of goods that their suppliers are willing to sell at different prices is the:
A)market supply curve
B)law of supply
C)demand curve
D)market demand curve

Question

Quizplus · Accepted Answer

The market supply curve shows the total quantity of goods that their suppliers are willing to sell at different prices. The law of supply states that as the price of a good increases, the quantity supplied of that good will also increase, ceteris paribus. The demand curve shows the total quantity of a good that consumers are willing to buy at different prices. The market demand curve shows the total quantity of a good that all consumers in a market are willing to buy at different prices. The market supply curve shows the relationship between the quantity of a good that all suppliers are willing to sell and the price of that good, holding all other factors constant. It represents the sum of individual supply curves of all suppliers in the market.

A Curve That Shows Us the Total Quantity of Goods