What is a supply curve?

Economics Dec 13, 2020

Expert Solution

Supply curve

The supply curve establishes a relationship between the amount of supply and price. It is an upward sloping curve showing a positive relationship between price and quantity supplied.When the supply of a good increases as a result of an increase in its price, we say that there is an increase in quantity supplied and supply curve shifts upwards. The reverse happens when there is a fall in price of the goods.

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