Which statements are true? 1 Read a supply curve up and over.
2 Read a marginal cost curve up and over.
3 Read a supply curve over and down.
4 Read a marginal cost curve over and down.

Question

Quizplus · Accepted Answer

The correct way to read a supply curve is to read it up and over because as the price of a product increases, the quantity supplied also increases. Therefore, choice 1 is true. On the other hand, the correct way to read a marginal cost curve is to read it over and down because as the quantity produced increases, the marginal cost also increases. Therefore, choice 4 is also true. Choices 2 and 3 are incorrect.

Which Statements Are True? 1 Read a Supply Curve Up