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.
Multiplier: The Multiplier is the ratio of change in income by the change in investment. Multiplier (k) = ΔY/ΔI
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If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
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