A typical supply curve shows a relationship between the:
A)amount of labour a firm hires and the amount of output it can produce.
B)amount of time required to produce a good and the relevant production costs.
C)price of a good and the quantity sellers would be willing to offer for sale.
D)amount of a good a firm produces and the total profit it earns.

Question

Quizplus · Accepted Answer

A typical supply curve shows the relationship between the price of a good and the quantity that sellers are willing and able to offer for sale. It reflects the law of supply, which states that as the price of a good increases, the quantity supplied also increases, ceteris paribus. The other options are not representative of a typical supply curve.

A Typical Supply Curve Shows a Relationship Between The