Question

A supply curve set at a given quantity is the result of a fixed __________.

Answer 1

Answer:

I believe the correct answer is supply.

Explanation:

A supply curve is a graphical representation of a commodity, and it shows the amount a producer/retailer/seller wants to sell at a particular price. According to the law of supply, all things being equal, when the price of the commodity increases, the quantity supply of the commodity also increases, ultimately it leads to the change in the supply curve. Supply curve illustrates with the aid of the graph the relationship between the price and quantity of goods that the producers are willing to offer for sale at a given price, holding constant all other factors affecting supply.