Asked by Nomthi Msipha on Sep 24, 2024
A supply curve slopes upwards because
A) the higher the price the lower the quantity that the sellers are willing to supply
B) the higher the price the higher the quantity that the sellers are willing to supply
C) the quantity supplied in insensitive to price
D) an increase in price brings the quantity sold down to zero
Supply Curve
a graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to supply.
- Understand the concept of supply and demand and how changes in these affect market prices.
Learning Objectives
- Understand the concept of supply and demand and how changes in these affect market prices.