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How does the quantity supplied change as the price increases?
As the price increases, the quantity supplied also increases. This is known as the law of supply, which states that there is a direct relationship between price and quantity supplied.
What is the relationship between price and the total quantity supplied by all firms in the market?
The relationship between price and the total quantity supplied by all firms in the market is known as the law of supply. According to this law, as the price of a good or service increases, the quantity supplied by firms also increases, and vice versa. This means that there is a direct relationship between price and the total quantity supplied in the market.
The relationship between quantity supplied and price is direct or inverse?
As quantity supplied goes up, price goes down. This is because the supply function is downward sloping. Thus, the relationship is inverse.
What is a table that shows the relationship between the price of a good and the quantity supplied?
Supply schedule
What is supply function?
Indicates the relationship between the quantity of thecommodity supplied and the unit price of the commodity
When the selling price goes up what is the relationship to the quantity supplied?
cost of production goes down
How does the quantity supplied change as the price increases?
As the price increases, the quantity supplied also increases. This is known as the law of supply, which states that there is a direct relationship between price and quantity supplied.
When the selling price of a good goes up what is relationship to the quantity supplied?
In most cases, the quantity goes down since the demand is higher that what is being supplied, leading to high competition. But yes
What is the relationship between price and the total quantity supplied by all firms in the market?
The relationship between price and the total quantity supplied by all firms in the market is known as the law of supply. According to this law, as the price of a good or service increases, the quantity supplied by firms also increases, and vice versa. This means that there is a direct relationship between price and the total quantity supplied in the market.
The relationship between quantity supplied and price is direct or inverse?
As quantity supplied goes up, price goes down. This is because the supply function is downward sloping. Thus, the relationship is inverse.
Term for relationship between price and quantity supplied?
Demand Curve
What is a table that shows the relationship between the price of a good and the quantity supplied?
Supply schedule
What statement refers to the law of supply?
Law of supply states that other factors remaining constant, supply is the function of its price where an increase in price of the commodity increases quantity supplied in the the market and a decrease in price reduces quantity supplied.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
What is supply function?
Indicates the relationship between the quantity of thecommodity supplied and the unit price of the commodity
Which relationship is the BEST example of the Law of Supply?
The quantity of a good supplied rises as the price rises.
Does a supply curve show a direct or inverse relationship between price and quantity supplied?
Yes, it does.
