Asupply schedule shows how prices affect the quality of a good. overall economy of a country. quantity of a good supplied by a producer. unemployment rate.

The correct answer is C.

A supply function provides the quantity of a certain product that suppliers are willing to manufacture at different market price levels. For higher prices, producers are willing to supply larger quantities as the profit they will earn will be higher. Therefore the function shows a direct relationship between quantities and prices.

A supply function is affected by several factors: the cost of raw materials and production inputs, the state of technology, etc.

A supply schedule shows prices affect the quantity of a good supplied by a producer.

Further Explanation:

Supply means the number of goods supplied by the producer in the market in a specified period. The Law of supply means that a change in the price of goods tends to change in the number of a good supplied by a producer other factors remain constant. A supply schedule indicates how the number of goods supplied by a producer due to a minor change in the goods price. As the goods price rise above the market price, the quantity supplied for the good increases and as the goods price fall below the market price, the quantity supplied for the good decreases other factors remains constant.

Justification for the

•Quality of a good: quality of good can be determined by the characteristics of that good. A supply schedule doesn't show the quality of good. This option is incorrect.

•Overall economy of a country: It can be computed by gross domestic product. GDP shows the total production of the goods for a particular year in a country. So, the change in price doesn't have any effect on the overall economy of a country. This option is incorrect.

•Quantity of a good supplied by a producer: As the price changes, it has a direct impact on the change in the number of goods supplied by a producer. This option is correct.

•Unemployment Rate: It is the rate which shows how many persons are unemployed in a particular period. Supply schedule relates to the price changes; the value of the good doesn't have any impact on the unemployment rate. This option is incorrect.

Therefore, a supply schedule shows prices affect the quantity of a good supplied by a producer.

Learn more:

1.Learn more about the law of supply

2.Learn more about the unemployment rate

3.Learn more about the equilibrium price

Answer details:

Grade: Senior School

Subject: Economics

Chapter: Law of Supply

Keywords: price change, the quantity of goods supplied, law of supply, increase or decrease, unemployment rate, overall economy, GDP, equilibrium price, other factor remains constant.

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