Question

Supply indicates how much of a good producers

options:
A. produce.
B. are willing and able to offer.
C. have sold.
D. have yet to sell.

Answer 1

Supply is the quantity of a good or service that producers are willing and able to offer for sale at different prices. The law of supply states that as the price of a good or service increases, producers are willing to supply more, while a decrease in price leads to a decrease in supply.

Step-by-step explanation:

Supply is the quantity of a good or service that producers are willing and able to offer for sale at each possible price during a given time period. The law of supply states that as the price of a good or service increases, producers are willing to supply more, and as the price decreases, producers are willing to supply less. This law assumes that all other variables affecting supply are held constant.