The supply curve indicates
A)the price that will be charged for each unit of a good or service
B)how much people are willing to pay for a good or service
C)the minimum price some seller must receive in order to supply each unit of a good or service
D)the value of each unit of a good or service
E)the maximum price some seller can expect to receive from supplying each unit of a good or service

Question

Quizplus · Accepted Answer

The supply curve represents the minimum price that a seller must receive to be willing to supply each unit of a good or service. As the price increases, suppliers are willing and able to sell more units of a good or service. Therefore, the supply curve slopes upward from left to right.

The Supply Curve Indicates