Ask Question
19 June, 09:09

Complete the sentences regarding the relationship between price and quantity supplied.

There exists a[n)

relationship between the price and quantity supplied and thus a supply curve is

+3
Answers (1)
  1. 19 June, 11:36
    0
    There exists a positive relationship between the price and quantity supplied and thus a supply curve is upward sloping

    Explanation:

    All things being equal, when the price of a good increases, the quantity supplied increases as there would be more suppliers in the market or existing suppliers would be willing to do more. The same is also the case if the price falls, supply would fall

    When we plot a graph with price and quantity, we noticed that it slopes upwards as quantity increases as prices does
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Complete the sentences regarding the relationship between price and quantity supplied. There exists a[n) relationship between the price and ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers