A supply curve typically slopes upward, reflecting the principle that as the price of a good increases, suppliers are willing to produce more of it. This is also a graphical representation of the relationship between the quantity of goods that suppliers are willing to sell and the price of those goods.

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A Supply Curve

Question 47

Multiple Choice

A supply curve

A) slopes upward.
B) is a graph of the relationship between the quantity supplied of a good and its price.
C) slopes downward.
D) Both answers A and B are correct.
E) Both answers A and C are correct.

Correct Answer: