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Homework answers / question archive / The quantity supplied is the: a) amount of inputs that a firm earns profit on
The quantity supplied is the:
a) amount of inputs that a firm earns profit on.
b) change in the sellers' output multiplied by the change in price.
c) amount of a good that firms are willing and able to sell at a particular price during a given period of time.
d) incremental cost of producing one more unit of output, holding all other things constant.
The correct answer is c) amount of a good that firms are willing and able to sell at a particular price during a given period of time.
Quantity supplied and price has a direct relationship. Suppliers are willing to produce more goods if the price is high and produce fewer goods if the price is low.
