Economics
WAEC 2015
The market supply curve slopes upward from left to right indicating that?
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A.
producers pay high taxes
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B.
two commodities can be supplied at the same time
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C.
at a lower price, less is supplied
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D.
at a lower price, more is supplied and demanded
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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