Question

A supply schedule is used to show the __________.

Answer 1

Generally speaking, in the world of economics, a supply schedule is used to show the "b. supply in a given market," since the supply changes based on the price of the good in question.

Answer 2

The correct answer is B.

A supply schedule or supply function represents the quantity of a certain good or service that producers are willing to offer in the market at different price levels. The law of supply states that there is a direct relationship between price and quantity supplied (ceteris paribus, hence, given that the rest remains equal).

Therefore, when the price charged increases, the amount that producers are willing to supply increases as well.