Final answer:
The shape of a typical supply curve, which slopes upward from left to right, indicates that sellers want to sell more products as the price rises. This reflects the law of supply and is contrary to all the provided options, which incorrectly describe the buyers' behavior or misstate the sellers' response to price changes.
Step-by-step explanation:
The shape of a typical supply curve illustrates a fundamental economic principle known as the law of supply. This principle states that as the price of a product increases, sellers are more willing to supply more of the product, and as the price decreases, sellers will supply less. Therefore, a typical supply curve is upward-sloping from left to right, showing that the quantity supplied increases with a rise in price and decreases with a fall in price.
So, regarding the options provided:
- A. Incorrect: Buyers are typically willing to buy more of a product as the price goes down, not up.
- B. Incorrect: It's the law of demand that suggests buyers will buy fewer products as price goes down, which is the opposite of the typical reaction.
- C. Incorrect: Sellers actually want to sell more products as the price goes up, not down.
- D. Incorrect: Sellers want to sell more products as prices go up, not fewer.
The correct statement relating to the shape of a typical supply curve is that sellers are willing to sell more products as the price increases.