Quantity Supplied
Definition of 'Quantity Supplied'A term used in economics to describe the amount of goods or services that are supplied at a given market price. Graphically, the amount of goods or services supplied lies at any point along the supply curve in a price versus quantity plane. The rate at which the amount supplied changes in response to changes in prices is called the price elasticity of supply. |
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Investopedia explains 'Quantity Supplied'The quantity supplied depends on the price level at any given time in the market. The price can be set by either a governing body by using price ceilings or floors, or by regular market forces. If a price ceiling or floor is set, this means there will be a market imperfection, which will force suppliers to provide a good or service for a noncompetitive price, no matter the cost of production. |
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