The supply curve for a product reflects the: a

Economics Dec 09, 2020

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.

Expert Solution

The answer is c. Cost to sellers of producing the product.

Both the supply and the demand curve can give us information about costs and values to individuals. The height of the supply curve represents the cost to producers while the height of the demand curve reflects the value to buyers.

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