Which of the following best defines supply?
a. the amount of a good that producers want to sell at a particular price
b. the amount of a good that consumers will buy
c. the amount of a good that producers are willing and able to sell at each possible price, other things constant
d. the amount of a good that producers are willing to sell at each possible price, other things constant
e. the amount of a good that producers are willing and able to buy at each possible price, other things constant
Question 2
A decrease in the price of peanut butter will cause a leftward shift of the supply curve of peanut butter.
a. True
b. False
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