The Supply Function

question 145

Multiple Choice

The supply function:

• A) describes how much of good X will be produced at an alternative price of good X, given all the other variables being constant.
• B) recognizes that the quantity of a good produced depends on its price and supply shifters.
• C) shows the relationship between the quantity supplied of X and variables other than its price.
• D) does not include technology.

---

Definitions:

Propensity

An inclination or natural tendency to behave in a particular way.

Terminated By Operation

Describes a condition or method by which something concludes automatically due to the existence of certain predetermined conditions.

Real Estate Broker

A real estate broker is a licensed professional who arranges real estate transactions by matching buyers and sellers, typically earning a commission for their services.

Undisclosed Principal

A person or entity that remains unknown to the third party in a contractual agreement, usually represented by an agent.