Which of the following statements about the supply curve is not true?
A) A supply curve represents a producer's willingness and ability to sell.
B) A supply curve shows the minimum price a producer will accept for any given quantity.
C) A supply curve visually displays the supply schedule.
D) A supply curve illustrates how many consumers want to purchase goods and services.

Question

Quizplus · Accepted Answer

Option D is not true because a supply curve represents the quantity of goods or services that producers are willing and able to sell at different prices, not how many consumers want to purchase them. It is the demand curve that shows how many consumers want to buy at different prices.

Which of the Following Statements About the Supply Curve Is