A typical supply curve shows a relationship between the:
A)amount of time required to produce a good and the relevant production costs.
B)amount of a good a firm produces and the total profit it earns.
C)amount of labour a firm hires and the amount of output it can produce.
D)price of a good and the quantity sellers would be willing to offer for sale.

Question

Quizplus · Accepted Answer

A typical supply curve shows the relationship between the price of a good and the quantity sellers would be willing to offer for sale. It represents the quantity of a good that suppliers are willing to supply at different prices. As the price of a good increases, the quantity supplied increases as well, resulting in an upward-sloping supply curve.

A Typical Supply Curve Shows a Relationship Between The