Which of the following most accurately explains why the supply curve for a good slopes upward to the right?

a. There is an inverse relationship between a good's price and the amount consumers are willing to purchase.

b. There is an inverse relationship between a good's price and the amount offered for sale by suppliers.

c. There is a direct relationship between a good's price and the amount offered for sale by suppliers.

d. There is a direct relationship between a good's price and the amount consumers are willing to purchase.

Question

Business

Peyton Barber

17 April, 23:50

Which of the following most accurately explains why the supply curve for a good slopes upward to the right?

a. There is an inverse relationship between a good's price and the amount consumers are willing to purchase.

b. There is an inverse relationship between a good's price and the amount offered for sale by suppliers.

c. There is a direct relationship between a good's price and the amount offered for sale by suppliers.

d. There is a direct relationship between a good's price and the amount consumers are willing to purchase.

+1

Answers (1)

Know the Answer?

Britney Morrison · Answer 1

c. There is a direct relationship between a good's price and the amount offered for sale by suppliers.

Explanation:

According to the law of supply concept, it shows a direct relationship between the price and the quantity supplied.

As the price is rising, the quantity supplied also increases and if the rice is declining, the quantity supplied is also decreases

Since the supply curve slopes upward in the right direction which reflects the direct relationship between the price and the quantity supplied.