BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In most cases, the supply curve is drawn as a slope rising upward from left to right, since product price and quantity supplied are directly related (i.e., as the price of a commodity increases in the market, the amount supplied increases).

Detailed explanation-2: -The supply curve is upward sloping because, over time, suppliers can choose how much of their goods to produce and later bring to market.

Detailed explanation-3: -Cars has an upward-sloping supply curve: we the price of cars increases, the quantity supplied increases.

Detailed explanation-4: -(i) Demand is perfectly elastic and supply decreases. (ii) Supply is perfectly inelastic and demand increases. (iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

Detailed explanation-5: -If the price of a good or service goes up, the supply for it will also go up, and if the price goes down, the supply of it will decrease. This is shown by the upward-sloping supply curve, which is a graph that illustrates the relationship between price and quantity supplied for a good or service.