ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the price of the good. Usually a supply curve has negative slope
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income. Usually a supply curve has positive slope.
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income. Usually a supply curve has negative slope
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the price of the good. Usually a supply curve has positive slope.
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Detailed explanation-1: -On most supply curves, as the price of a good increases, the quantity of goods supplied also increases. Supply curves can often show if a commodity will experience a price increase or decrease based on demand, and vice versa.
Detailed explanation-2: -The elasticity of supply is a positive coefficient. This is because positive relationship between price and the quantity supplied. The determinant is Time Frame for the supply decision (long-run supply and short-run supply) and The quantity product increase, the cost will increase.
Detailed explanation-3: -The supply curve shows the positive correlation between the price of the product and the quantity supplied.
Detailed explanation-4: -The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time. In a typical representation, the price will appear on the left vertical axis, the quantity demanded on the horizontal axis.