QuestionJuly 7, 2025

Question 2 The market supply curve for any good is __

Question 2 The market supply curve for any good is __
Question 2
The market supply curve for any good is
__

Solution
4.1(329 votes)

Answer

The market supply curve is typically upward sloping, represented by Q_s = c + dP. Explanation 1. Define Market Supply Curve The market supply curve represents the total quantity of a good that producers are willing and able to sell at different prices. 2. General Form of Supply Curve Typically, the supply curve is upward sloping, indicating that as price increases, the quantity supplied also increases. 3. Mathematical Representation A simple linear supply curve can be represented by the equation Q_s = c + dP, where Q_s is the quantity supplied, P is the price, c is the intercept, and d is the slope.

Explanation

1. Define Market Supply Curve<br /> The market supply curve represents the total quantity of a good that producers are willing and able to sell at different prices.<br /><br />2. General Form of Supply Curve<br /> Typically, the supply curve is upward sloping, indicating that as price increases, the quantity supplied also increases.<br /><br />3. Mathematical Representation<br /> A simple linear supply curve can be represented by the equation $Q_s = c + dP$, where $Q_s$ is the quantity supplied, $P$ is the price, $c$ is the intercept, and $d$ is the slope.
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