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Question 1 (Multiple Choice, Worth 4 points)

Which of the following describes what is identified by a supply schedule?

A. How much suppliers will profit at various prices

B. How much consumers will save at various supply levels

C. How much suppliers will raise prices as production varies

D. How much suppliers will produce at various prices



Answer :

GinnyAnswer

Final answer:

A supply schedule in economics shows the relationship between quantity supplied and price, following the law of supply.


Explanation:

A supply schedule is a table that shows the quantity supplied at different prices in the market. A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied.


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