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An economist tells you that supply is not the same thing as quantity supplied. What is the distinction?
AQuantity supplied is the entire supply curve itself
BSupply is the point on the curve at one price
CThe two terms mean exactly the same thing
DSupply is the curve; quantity supplied is one point on it
Answer & Solution
Correct answer: D. Supply is the curve; quantity supplied is one point on it
1. Supply describes the whole relationship between a range of prices and the quantities producers want to sell at each price.
2. That relationship is shown as a supply curve or a supply schedule.
3. Quantity supplied is only one value read off that curve at one particular price.
4. So supply is the curve, and quantity supplied is a single point on it, which rules out options A and B.
_Source: OpenStax Principles of Macroeconomics for AP Courses (CC BY 4.0), Ch 3 "Demand and Supply", section 3.1 | Demand, Supply, and Equilibrium in Markets for Goods and Services_
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