In the context of analyzing economic efficiency, we can interpret the market supply curve to be showing

A) the average cost of producing the product at each output level.
B) the marginal revenue from each extra unit of the product.
C) the average variable cost of producing the product.
D) the marginal opportunity cost to produce each unit of the product.

Economic Efficiency

A condition in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Market Supply Curve

A graphical representation that shows the quantity of goods that producers are willing and able to sell at various prices over a given period.

Marginal Opportunity Cost

By deciding on one route, one foregoes the possible advantages that other routes could have offered.