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The market supply curve slopes upward from left to right indicating that?

Economics
WAEC 2015

The market supply curve slopes upward from left to right indicating that?

  • A. producers pay high taxes
  • B. two commodities can be supplied at the same time
  • C. at a lower price, less is supplied
  • D. at a lower price, more is supplied and demanded
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Correct Answer: Option C
Explanation

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, and at a lower price, supply decreases).


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