The quantity supplied of a good is
A) the same thing as the quantity demanded at each price.
B) the amount that the people are willing and able to sell during a given time period at a specified price.
C) equal to the difference between the quantity available and the quantity desired by all consumers and producers.
D) the amount the firm will sell when it can sell all it wants.
E) always larger than the quantity demanded at each price.

Question

Quizplus · Accepted Answer

The quantity supplied of a good refers to the amount that sellers are willing and able to sell during a given time period at a specified price. This is different from the quantity demanded, which refers to the amount that buyers are willing and able to purchase at a given price. Therefore, option B correctly defines the concept of quantity supplied.

The Quantity Supplied of a Good Is