Question

Supply curves reveal that: a. the lower the price, the higher the quantity supplied. b. the higher the price, the lower the quantity supplied. c. the higher the price, the higher the quantity supplied. d. lower demand leads to lower supply.

Answer 1

Answer:

Answer is option c, i.e. the higher the price, the higher the quantity supplied.

Explanation:

The supply curve can be understood as the graphical representation depicting the relationship between the price of the commodity and the quantity supplied. As we know that the curve is upward sloping, so it illustrates the fact that the higher the price of the commodity, the higher will be the quantity supplied. Therefore, the answer is option c.