Ask Question
1 July, 11:21

Group of answer choices reflects a direct relationship between the price and quantity. The Law of Supply: a) shows that the relationship between producer revenue and quantity supplied is negative b) reflects the income and substitution effects of a price change c) is reflected in a downsloping supply curve.

+1
Answers (1)
  1. 1 July, 13:29
    0
    c) is reflected in a downward sloping supply curve.

    Explanation:

    A direct relationship between the price and quantity is reflected in a downward sloping supply curve.

    The Law of demand states that ''conditional on all else being equal, as the price of a good increases, quantity demanded decreases; conversely, as the price of a good decreases, quantity demanded increases"

    Hence this relationship is reflected in a downward sloping curve as demand falls as price rises.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Group of answer choices reflects a direct relationship between the price and quantity. The Law of Supply: a) shows that the relationship ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers