______________________________ indicates how much of a good producers are willing and able to offer for sale per period at each price, other things constant. (1 word)
According to the law of supply, the higher the price, the greater the ______________________________. (2 words)
The ______________________________ equals the percentage change in quantity supplied divided by the percentage change in price. (3 words)
A change in one of the determinants of supply other than the price causes a ______________________________ of a supply curve, changing supply. (1 word)
______________________________ is the total output of the firm per period. (2 words)
A(n) ______________________________ cost is one that does not change in the short run, no matter how much is produced. (1 word)
______________________________ refers to a particular amount offered for sale at a particular price, as reflected by a point on a given supply curve. (2 words)
The ______________________________ curve shows the total quantity supplied by all producers at various prices. (2 words)
The price elasticity of ______________________________ measures how responsive consumers are to a price change. (1 word)
If supply elasticity exceeds 1.0, supply is price ______________________________. (1 word)