A vertical supply curve represents:
A) an inverse relationship between price and quantity supplied.
B) an independent relationship between price and quantity supplied.
C) an independent relationship between price and supply.
D) a direct relationship between price and quantity supplied.
E) a direct relationship between price and supply.

Question

Quizplus · Accepted Answer

CEA vertical supply curve indicates that the quantity supplied is unaffected by changes in price, meaning the relationship between price and quantity supplied (or supply) is independent. This is because a vertical line on a graph shows that the variable on the x-axis (in this case, price) does not affect the variable on the y-axis (quantity supplied or supply).

A Vertical Supply Curve Represents