The quantity supplied is the: a) amount of inputs that a firm earns profit on

Economics Dec 08, 2020

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.

Expert Solution

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.

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