Practice prompt · Q:economics-and-market-foundations/audit-supply-curve-001

Audit a supplied supply curve

Check function form, units, controls, domain, provenance, and accounting record boundaries before using a clean curve as evidence.

Updated Aug 7, 2026 Review due Nov 7, 2026

Practice

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Choose a response, then check the answer and explanation.

A workbook supplies Qs = 200 + 10P but contains no offer, production, cost, or inventory records. Which audit response is strongest?

Choose the best answer. a Treat the line as a supplied model, state units, held-constant determinants and domain, distinguish offers from production and inventory, and identify data and design needed for empirical or causal claims. b Use ending inventory as direct observation of every point on the supply curve. c Because the line slopes upward, it proves higher prices caused greater real production in every market and period.

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Answer: a

Choice a. Label model status, function form, units, controls, domain, and transaction layer before drawing empirical, causal, inventory, or accounting conclusions.