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Q: The curve that shows the levels of output that a profit maximising firm would choose to produce at different values of the market price is called the firm's ________.
  • A. Demand curve
  • B. Variable curve
  • C. Supply curve
  • D. Performance curve
Correct Answer: Option C - The curve that shows the levels of output that a profit maximising firm would choose to produce at different values of the market price is called the firm's supply curve. The supply curve is upward sloping because overtime suppliers can choose how much of their goods to produce and later bring to a market.
C. The curve that shows the levels of output that a profit maximising firm would choose to produce at different values of the market price is called the firm's supply curve. The supply curve is upward sloping because overtime suppliers can choose how much of their goods to produce and later bring to a market.

Explanations:

The curve that shows the levels of output that a profit maximising firm would choose to produce at different values of the market price is called the firm's supply curve. The supply curve is upward sloping because overtime suppliers can choose how much of their goods to produce and later bring to a market.