Question

Question 1

Which of the following statements about the market supply curve for a product is false?


a) The market supply curve represents the individual supply curves of all firms which produce the product added together.

b) The market supply curve may shift if there is a change in the behaviour of some firms which produce the product.

c) The market supply curve may shift if there is change in the price of the product.

d) The market supply curve may shift if there is a change in the number of firms which supply the product.