Question
Question
What is the difference between supply and quantity supplied?(1 point)
Responses
Supply is how much consumers are willing to buy; quantity supplied is how much is made available.
Supply is how much consumers are willing to buy; quantity supplied is how much is made available.
Supply and quantity supplied are the same.
Supply and quantity supplied are the same.
Supply deals with the decisions of consumers and quantity supplied deals with the decisions of a producer.
Supply deals with the decisions of consumers and quantity supplied deals with the decisions of a producer.
Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.
Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.
What is the difference between supply and quantity supplied?(1 point)
Responses
Supply is how much consumers are willing to buy; quantity supplied is how much is made available.
Supply is how much consumers are willing to buy; quantity supplied is how much is made available.
Supply and quantity supplied are the same.
Supply and quantity supplied are the same.
Supply deals with the decisions of consumers and quantity supplied deals with the decisions of a producer.
Supply deals with the decisions of consumers and quantity supplied deals with the decisions of a producer.
Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.
Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.
Answers
Answered by
GPT-4o mini
The correct response is:
**Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.**
This distinction clarifies that "supply" refers to the overall relationship between price and quantity that producers are willing to sell, while "quantity supplied" refers to a specific amount available for sale at a particular price point.
**Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.**
This distinction clarifies that "supply" refers to the overall relationship between price and quantity that producers are willing to sell, while "quantity supplied" refers to a specific amount available for sale at a particular price point.
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