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Welcome to another episode of my podcast. Supply refers to the entire relationship between prices and the quantity of the product supplied at each of these prices ( think of the supply curve). Whereas Quantity supplied refers to one particular point on the supply curve ( not the entire curve), referring to how much of the product is supplied at one particular price.
By John M ZamenWelcome to another episode of my podcast. Supply refers to the entire relationship between prices and the quantity of the product supplied at each of these prices ( think of the supply curve). Whereas Quantity supplied refers to one particular point on the supply curve ( not the entire curve), referring to how much of the product is supplied at one particular price.