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Which of the following is a determinant of market supply curve but not a determinant of an individual seller's supply?
number of sellers
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
What is Market Supply?
The total supply of every seller willing and able to sell a good.
What is it called When the demand is high and supply is low?
A seller's market.
What exists when the entire supply of a good is controlled by a single seller?
monopoly
Which of the following is a determinant of market supply curve but not a determinant of an individual seller's supply?
number of sellers
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
What is Market Supply?
The total supply of every seller willing and able to sell a good.
What is it called When the demand is high and supply is low?
A seller's market.
What are some affects to the market supply curve?
cost of labor a change in the demand for the product the number of sellers offering the product
What exists when the entire supply of a good is controlled by a single seller?
monopoly
When a seller has agreed to supply all of the needs of a buyer there is a?
requirements contract
What affects gas prices?
Supply and demand.
How are market supply curves obtained?
The individual seller is only one of a great many sellers. The market supply curve is obtained by seeing what each seller does at a price and then adding up all the outputs at that price.
When determining the cost of an item the seller will often analyze the demand as well as the supply before setting the price of the?
When determining the cost of an item, the seller will often analyze the demand as well as the supply before setting the price of the
When discussing supply you must look at things from whose point of view?
When discussing supply, you must look at things from the seller's point of view. This includes analyzing factors such as production costs, technology, and price expectations that influence how much a seller is willing and able to supply in the market.
What is the price effect according to the law of supply?
The law of supply says; The supply will be increase due to increase in price and vice versa. The reason is that the seller will maximize his profit.
