The market supply curve is:

Question

Quizplus · Accepted Answer

The market supply curve is upward sloping because as the price of a good or service increases, suppliers are willing to produce and supply more of it to the market. This is because higher prices mean higher profits for suppliers, which incentivizes them to increase their production. Conversely, as the price of a good or service decreases, suppliers are willing to produce and supply less of it to the market because lower prices mean lower profits. Therefore, the market supply curve slopes upward.

The Market Supply Curve Is