The distinction between supply and the quantity supplied is best made by saying that:
A) the quantity supplied is represented graphically by a curve and supply as a point on that curve.
B) supply is represented graphically by a curve and quantity supplied as a point on that curve.
C) the quantity supplied is in a direct relation with prices, whereas supply is in an inverse relation.
D) the quantity supplied is in an inverse relation with prices, whereas supply is in a direct relation.

Question

Quizplus · Accepted Answer

Supply is the entire relationship between prices and the quantity of a product that producers are willing to sell, represented by the supply curve. Quantity supplied refers to a specific point on the supply curve, indicating the amount producers are willing to sell at a particular price.

The Distinction Between Supply and the Quantity Supplied Is Best