The quantity supplied of a good is
A) the same thing as the quantity demanded at each price.
B) the amount that the producers are planning to sell at a particular price during a given time period.
C) equal to the difference between the quantity available and the quantity desired by all consumers and producers.
D) the amount the firm would sell if it faced no resource constraints.
B
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What could explain why a decrease in taxes could lead to a less-than proportionate increase in output ?
A. Consumers may choose to save much of the tax cut in anticipation of having to pay higher taxes in the future. B. As a result of diminishing returns to current consumption, consumers may choose to spread the extra spending over the long term rather than consuming the proceeds of a tax cut all at once. C. A decrease in taxes will necessitate lower government outlays, thus largely offsetting the higher consumption expenditures of households. D. All of the above. E. A and B only
Because of market power, wages are higher under monopsony than under competitive conditions
Indicate whether the statement is true or false
An increase in net working capital required at the beginning of an expansion project must be considered to be
A) a cash inflow. B) a reallocation of assets. C) a cash outflow. D) None of the above
In product markets:
A. businesses sell resources to households. B. households sell products to business firms. C. businesses sell goods and services to households. D. households sell resources to business firms.