Question

A graph of the quantity sellers produce at all different prices is called

A: Supply curve
B: Market schedule
C: Equilibrium curve
D: Demand schedule

Answer 1

A: Supply curve

Step-by-step explanation:

The supply curve is a graphical illustration of the quantities of goods and services that firms are willing to sell in the market at different prices. As per the law of supply, the higher the price, the more quantities suppliers will be willing to produce. There exists a direct relationship between price and quantity supplied.

The supply curve is upward sloping. It illustrates how the quantity supplied changes at different prices. The supply curves can be described as the graphical presentation of the law of supply.