If the supply curve of the commodity is having a positive slope, a rise in the price of the commodity, results in:
A)increase in supply
B)increase in quantity supplied
C)decrease in supply
D)decrease in quantity supplied

Question

Quizplus · Accepted Answer

A positive slope in the supply curve indicates that as the price of the commodity increases, the quantity supplied also increases. This is because suppliers are willing to supply more of the commodity at higher prices, leading to an increase in the quantity supplied, not an increase in supply itself. The term "increase in supply" would imply a shift of the supply curve, which is not the case here.

If the Supply Curve of the Commodity Is Having a Positive