Suppose the numbers in parentheses represent two points on a line: (59 billion quarts; $4) and (78 billion quarts; $6).The line is most likely a
A)production possibilities frontier for milk.
B)supply curve for milk.
C)demand curve for milk.
D)ray through the origin.
E)time series line.

Question

Quizplus · Accepted Answer

The points given represent quantity (quarts) and price ($), which are the two variables involved in a supply curve. The line connecting these two points is likely a supply curve for milk.

Suppose the Numbers in Parentheses Represent Two Points on a Line