The supply curve for watches
A) is downward sloping.
B) shows the relationship between the quantity of watches firms are willing and able to supply and the quantity of watches consumers are willing and able to purchase.
C) shows the supply of watches consumers are willing and able to buy at any given price.
D) shows the relationship between the price of watches and the quantity of watches supplied.
Question 2
Refer to Figure 7-1. Marginal social benefit is represented by which curve?
A) Supply
B) D1
C) D2
D) All of the above represent marginal social benefit.
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