Question 3 5 pts What is the "industry" or "market" supply curve? It is the total quantity that any firm will make available at the market price. It is horizontal at the market price. It is the total quantity demanded (added up) at a list of prices for all the firms in that market. It is downward sloping. O It is the total quantity supplied (added up) at a list of prices for all the firms in that market. It is upward sloping. It is a fixed quantity that any firm will make available at the market price. It is vertical at that quantity. Question 4 5 pts Market supply Market demand 100 200 300 400 500 600 700 800 900 Q If market demand in this perfectly competitive market decreases, what happens to the price that individual firms charge for the product? Increases O No change in the price but quantity falls. Decreases