Figure: Supply Curve Refer to the figure. A vertical reading of the figure indicates that:

Question

Figure: Supply Curve  Refer to the figure. A vertical reading of the figure indicates that:

Quizplus · Accepted Answer

A vertical reading of the figure shows the quantity supplied at different prices. At a price of $40 per unit, suppliers are willing and able to sell 500 units. The statement in option A is incorrect because the supply curve shows that suppliers are willing to supply at all prices above $40, not just at a price higher than $40. Option B is also incorrect because the supply curve shows that at a price of $30, suppliers are only willing to supply 200 units, not at least 500 units as stated in the option. Option D is incorrect because the supply curve shows that suppliers are willing to supply at all prices below $40, not just when the price is lower than $40.

Figure: Supply Curve Refer to the Figure