The document provides information on supply, including defining supply as the willingness and ability to produce a good or service at a given price. It defines quantity supplied as the amount producers are willing to supply at a given price. It states that, ceteris paribus, as price increases the quantity supplied also increases, following the law of supply. It discusses movement along the supply curve indicating changes in quantity supplied due to price changes. It provides an example of an individual supply schedule for coffee in Burlington, Vermont and a market supply schedule showing the total quantity supplied at different prices.

1. Name ________________ Period 3 Score ______ / 20 points February 4, 2010 Class Work: Introduction to Supply Supply: the willingness and ability to produce or offer at a given price a certain quantity of a good or service. Quantity Supplied: the quantity that producers are willing and able to supply at a given price. Ceteris paribus: “all else equal” Law of Supply: ceteris paribus, as the price decreases, the quantity supplied decreases; and conversely, as the price increases, the quantity supplied increases. P Qtys ; P Qtys Movement Along the Supply Curve: Movement along the Supply Curve indicates a change in the quantity supplied caused by changes in its price. Individual Supply Schedule: Tells what quantity of a good or service a producer would supply at each price. The Individual Firm Supply Schedule for Coffee in City of Burlington, Vermont CombinationPrice ($)QuantityA$ 4.50320B$ 2.50160C$ 1.75100D$ 1.5080E$ 1.2560F$ 1.0040G$ 0.7520 Market Supply Schedule: A table that tells the quantity of a good or service that all firms in the market are willing and able to produce and sell at various prices. The Market Supply Schedule for Coffee in City of Burlington, Vermont CombinationPrice ($)QuantityA$ 4.502268B$ 2.501260C$ 1.75882D$ 1.50756E$ 1.25630F$ 1.00504G$ 0.75378