Asked by Yussef Farag on May 03, 2024

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When the price of a good is low, selling the good is profitable, and so the quantity supplied is large.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specific period of time.

Profitable

Capable of generating financial gain or benefits exceeding costs, making a venture worthwhile.

Price

The amount of money required to purchase a good, service, or asset, often determined by supply and demand dynamics in the market.

  • Understand the impact of price changes on the profitability and quantity supplied of goods.
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IH
Isaac HafnerMay 06, 2024
Final Answer :
False
Explanation :
When the price of a good is low, it is generally less profitable for producers to sell the good, leading to a smaller quantity supplied. Producers are more willing to supply more of a good when its price is higher, as it increases profitability.