A given supply curve illustrates
A) the relationship between price and quantity supplied.
B) the effect of a change in resource costs on quantity supplied.
C) the effect of a change in technology on quantity supplied.
D) the relationship between expected future prices and quantity supplied.

Question

Quizplus · Accepted Answer

A supply curve shows the relationship between the price of a good or service and the quantity that suppliers are willing and able to produce and sell at that price. It does not directly relate to changes in resource costs, technology, or expected future prices.

A Given Supply Curve Illustrates