Question

Explain the purpose of a supply curve.

Answer 1

The supply curve is a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period. In a typical illustration, the price will appear on the left vertical axis, while the quantity supplied will appear on the horizontal axis.

Step-by-step explanation:

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Answer 2

A supply curve provides a reader, student, or policy maker with a visual representation of the relationship between the price and quantify of a product, as it relates to what the supplier is willing to sell it for and how much they are willing to sell.