A common misconception about supply is that
A)supply depends on many other variables
B)price is a major determinant of quantity.
C)it is a fixed amount.
D)quantity cannot be determined in advance.
E)All of these responses are correct.

Question

Quizplus · Accepted Answer

The statement "it is a fixed amount" is a common misconception about supply, as supply can change in response to many factors including price, input costs, technology, and government policies.

A Common Misconception About Supply Is That