00:01
So here we're talking about micro principles, and in particular, the concept of supply.
00:04
So again, if we draw a supply curve, right, a supply curve is a relationship between quantity and price that indicates at, say, a given price, how much people are willing to supply.
00:16
So let's go through each of these in turn.
00:20
So a is wrong, right? you see that supply supply is not product demanded, right? demand is product demanded.
00:36
Supply is product supplied.
00:38
So a is a bad answer.
00:41
B, i don't like b either, right? b is proposing quantity sold.
00:50
This is quantity sold is equal to quantity supplied, but this is not equal to supply...