ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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show the law of supply in chart form
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show the law of supply in graph form
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show the law of supply in table form
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show the law of supply in a written description
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Detailed explanation-1: -supply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
Detailed explanation-2: -Law of Supply Graph It is an upward sloping curve where the price of the product is represented along the y-axis and quantity on the x-axis.
Detailed explanation-3: -A supply curve is a graph that shows how a change in the price of a good or service affects the quantity a seller supplies. Price is listed on the vertical y-axis, while quantity supplied is listed on the horizontal x-axis.
Detailed explanation-4: -Supply curves can often show if a commodity will experience a price increase or decrease based on demand, and vice versa. The supply curve is shallower (closer to horizontal) for products with more elastic supply and steeper (closer to vertical) for products with less elastic supply.