Question

What is the difference between supply and quantity supplied?(1 point)

Answer 1

Answer: Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.

1. quantity supplied increases

2. Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.

3. perfectly inelastic

4. an artist

5. Price and quantity supplied move in the same direction; as price decreases, quantity supplied decreases and as price increases, quantity supplied increases.