A supply curve:
A) shows the quantity of products that would be demanded at various possible prices.
B) is generally up-sloping from left to right.
C) is not affected by suppliers' costs.
D) generally slopes in the same direction as the demand curve.
E) All of the above are true.

Question

Quizplus · Accepted Answer

A supply curve shows the quantity of a product that producers are willing and able to sell at various possible prices. It is generally upward sloping from left to right, indicating that as the price of a good or service increases, the quantity supplied also increases. This is because suppliers can earn higher profits by selling more products at higher prices. However, if the cost of production for suppliers increases, it could shift the supply curve inward, decreasing the quantity supplied for any given price. Therefore, option B is the correct answer.

A Supply Curve