is the total number of units of a good or service producers are willing to sell at a given price. This is not to be confused with , which is a function representing the relationship between quantity supplied and different prices.

Supply and supply curve

Explanation:

Supply refers to the total quantity that firms are willing to sell in the market place at a given price, at a period. Suppliers, as business people, will be willing to sell more if the prices are high. High prices present a chance for better profits.

A supply curve graphically illustrates the relationship between the quantity supplied and price. The curve is upward slowing and will show how quantity increases as price rises. The relationship can also be expressed in a table form called the supply schedule.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20