What humorous comparison does Mr. Clifford make about dairy farmers?

They should be called horse boys.

They should be called ranchers.

The quantity a seller is willing and able to sell ALL at possible prices during a given time period

The amount of a good or service that a producer is willing to sell at EACH PARTICULAR PRICE

Says that producers supply more goods & services when they must sell them at lower prices

The cost of producing the good increases/decreases based on the materials necessary to produce (inputs)

The degree to which price changes affect the Qs. An ELASTIC supply exists when a small change in price causes a MAJOR change in the Qs

The amount of goods and services produced per unit of input

The expenses that owners of a business must incur whether they produce nothing, a little, or a lot

The business costs that vary as the level of production output changes such as wages, resources, shipping, and advertising

a company is able to purchase resources at prices that allow continued production goods and services

an increase/decrease in the number of sellers can cause an increase or decrease in the supply of goods and services

innovations in equipment and processes

taxes and government regulations that impact businesses

what is not produced by a company in favor of the more profitable good or service

when suppliers inventory will reflect how they view the economy in the future

shift the Supply Curve to the RIGHT

shift the Supply Curve to the LEFT