Asked by Janell Cooper on May 29, 2024
Verified
A supply curve describes
A) the relationship between price and quantity demanded
B) the relationship between price and quantity supplied
C) the relationship between a group of buyers and sellers
D) none of the above
Supply Curve
A graph showing the relationship between product price and quantity of product that a seller is willing and able to supply.
Quantity Supplied
The amount of a certain good or service that producers are willing to supply at a given price.
- Explain the relationship between price and quantity supplied and the formation of supply curves.
Verified Answer
ZK
Zybrea KnightJun 02, 2024
Final Answer :
B
Explanation :
A supply curve shows the relationship between price and the quantity supplied by producers in a market.
Learning Objectives
- Explain the relationship between price and quantity supplied and the formation of supply curves.