Asked by Antonia Divinity on Jul 13, 2024
Verified
Quantity supplied is determined by how much producers are willing and able to produce.
Producers
Individuals or companies that create goods or services for sale to consumers or other businesses.
Production
The process of creating goods or services by combining labor, capital, and natural resources to meet consumer demand.
- Comprehend the linkage between variations in price and the resultant shifts along the supply and demand curves.
Verified Answer
DH
Dylan HaydtJul 17, 2024
Final Answer :
True
Explanation :
Quantity supplied refers to the amount of a good or service that producers are willing and able to produce at a given price over a specified period.
Learning Objectives
- Comprehend the linkage between variations in price and the resultant shifts along the supply and demand curves.