In microeconomics, what does a supply schedule show?

• A. The quantity of a good that producers are willing and able to sell at various prices over a given time period
• B. All possible combinations of two goods a consumer can afford given income and prices
• C. The single market price at which quantity supplied equals quantity demanded
• D. The quantity of a good that consumers are willing and able to buy at various prices over a given time period

Answer: (A)

Verified step by step guidance

1. Understand that a supply schedule is a tabular representation used in microeconomics to show the relationship between the price of a good and the quantity that producers are willing and able to sell.
2. Recognize that the supply schedule lists various prices of a good in one column and the corresponding quantities supplied by producers in another column.
3. Note that the supply schedule reflects how quantity supplied changes as the price changes, typically showing that higher prices incentivize producers to supply more.
4. Distinguish the supply schedule from other concepts such as demand schedules (which show quantities consumers are willing to buy), budget constraints (which show combinations of goods consumers can afford), and equilibrium price (where quantity supplied equals quantity demanded).
5. Conclude that the supply schedule specifically shows the quantity of a good that producers are willing and able to sell at various prices over a given time period.