Question

What is Market Supply?

Hint:

Market Supply = The sum of what every single producer is willing to sell at a certain price.

Answer 1

Market supply is the total quantity of a good or service that all producers in a market are willing and able to sell at a given price during a specific period. It is the horizontal summation of the individual supply schedules of all the firms in the industry. The market supply curve shows the relationship between the total quantity supplied and the market price, holding all other factors constant.