Final answer:
Quantity supplied is the amount of product sellers are willing to supply at a given price; market supply curve illustrates this relationship, vital in market analysis.
Explanation:
Quantity supplied refers to the amount of a product or service that sellers are willing to supply at a given price during a specific period, assuming other factors remain constant.
The market supply curve shows how the quantity supplied changes in response to changes in price, reflecting the relationship between price and the amount producers are willing to supply.
Understanding supply is crucial in analyzing market dynamics and how sellers interact with demand to determine prices and quantities exchanged.
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