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This study guide covers the concept of supply in AP Microeconomics, including the Law of Supply, the supply curve, and determinants of supply such as resource costs, taxes/subsidies, technology, expectations, and number of sellers. It also provides practice questions and exam tips focusing on applying these concepts and correctly identifying changes in quantity supplied versus supply.
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Question 1 of 11
Supply refers to the amount of a good or service producers are 🤔:
Able to produce, regardless of price
Willing to sell, regardless of their ability
Both willing and able to sell at different prices
Planning to sell in the future