Market Supply versus Individual Supply
What is the basic difference between Market Supply and Individual Supply?
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A) Market supply curve can be established by summing individual supply curves.
B) Individual supply curves are summed up horizontally at each and every price.
C) Market supply curve exhibits how total quantity supplied differs as the price of good differs.
"In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."
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