ECONOMICS (CBSE/UGC NET)

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 as price increases, suppliers can justify producing at higher marginal costs as long as MC < P.

Detailed explanation-3: -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-4: -The slope of a typical demand curve moves downwards from left to right. This slope indicates that as price increases, demand falls, thus confirming the law of demand. On the other hand, a supply curve exhibits how the number of goods supplied depends on the market price.