Social Studies, 31.12.2019 08:31 corrah15

Amarket supply schedule shows
a. the products of two companies only.
b. the prices and quantity in an entire market.
c. how prices affect a single producer.
d. how prices affect a group of consumers.

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Answer from: cheervolley

A market supply schedule shows the prices and the quantity of goods supplied in the entire market.

Further ExplanationMarket supplyMarket supply is the quantity of goods or services that suppliers are willing to supply to the market at a particular price. Producers and suppliers will supply goods and services at the most favorable market price that is determined by the forces of demand and supply among other factors.Market supply schedule A market supply schedule outlines the relationship between prices of goods and services and the Quantity of goods and services supplied by the producers or suppliers to the market.Quantity of goods and services supplied by the producers varies with the market price.The supply schedule helps us to come up with a law that we call the law of supply which defines the relationship between price and quantity of goods and services supplied.Law of supply According to the law of supply, an increase in price of a good or a service results to an increase in the quantity of goods or services that suppliers are willing to supply.Conversely, a decrease in price on the other hand will result to low supply of quantity of goods and services by the suppliers.

Keywords: Supply, supply schedule, Quantity of goods supplied, price of goods.

Learn more about; Supply: Law of supply: Supply Schedule:

Level; High school

Subject: Business

Topic: Demand and supply

Sub-topic: Supply

Answer from: laraekeyes

The option (B) is correct. A market supply schedule shows the prices and quantity in an entire market.

Further explanation:

A market supply schedule is a table form representation of quantity supplied by all producers of the market at different price levels. The horizontal summing of individual supply schedules will give a market supply schedule. A market supply schedule follows the law of supply, which means that the market supply goes up when price rises and market supply goes down when the price falls. The graphical representation of a market supply schedule is called a market supply curve.

Justification for the correct and incorrect

The products of two companies only: This option is incorrect.

A market supply schedule shows the supply of only one good in the market at different price levels. It doesn’t show the products of the two companies.

The prices and quantity in an entire market: This option is correct.

A market supply schedule is a list of prices and quantity supplied in an entire market. It shows the total quantity supplied in the entire market at different prices.

How prices affect a single producer: This option is incorrect.

A market supply schedule is not about just one producer of the good rather; it is about all producers in the entire market. A market supply schedule doesn’t show how prices affect a single producer.

How prices affect a group of consumers: This option is incorrect.

A market supply schedule doesn’t show how prices affect a group of consumers. The behavior of consumers at different prices is captured by the demand schedule, not the supply schedule.

Therefore, a market supply schedule shows the prices and quantity in an entire market.

Learn more:

1.Learn more about the Demand and Supply of goods

2.Learn more about Demand and Supply diagram

3.Learn more about the Law of Demand and Supply

Answer details:

Grade: Senior School

Subject: Economics

Chapter: Demand and Supply

Keywords: market supply, schedule, shows, products, two, companies, prices, quantity, entire, market, prices affect a single producer, prices affect a group of consumers, law of supply, supply schedule, market supply schedule .

Answer from: Quest

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Answer from: Quest

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