A supply curve slopes upward because, all else equal, a higher price means a greater quantity supplied.

Name: A supply curve slopes upward because, all else equal, a higher price means a greater quantity supplied.
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Question

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The law of supply states that there is a direct relationship between price and quantity supplied, so as price increases, firms are willing to supply more of a good or service, resulting in an upward-sloping supply curve.

A Supply Curve Slopes Upward Because, All Else Equal, a Higher