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definition: The amount of a good or service that a producer is willing and able to supply at a specific price.
The ONLY thing that can change quantity supplied is a change in the price of that product, right now. (Ceteris Paribus) connected key terms: supply schedule | supply curve | changes in supply curve
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▪ if a dvd is sold for 2.00 and 100 are sold, the company makes 200 dollars ▪ if the same dvd is sold for 2.00 and 150 dvd's are sold the company makes 300 dollars in conclusion, supply should be increased as price is increased |