A product's ________ shows how much sellers of a product want to sell at each possible price,holding all other factors fixed.

Question

Quizplus · Accepted Answer

The supply curve represents the quantity of a product that sellers are willing and able to sell at different prices, assuming that all other factors (such as input costs and technology) remain constant. The supply function is a mathematical representation of the relationship between the quantity supplied of a good and the various factors that determine it, such as the price of the good, input prices, and technology. The production function shows how much output can be produced from a given combination of inputs, while the total product curve shows the relationship between the quantity of inputs and the quantity of output produced.

A Product's ________ Shows How Much Sellers of a Product