Question

Supply curve shows relationship between:

(a) Price and Supply (b) Income and Supply

(c) Profit and Supply (d) Taste and Supply ​

Answer 1

Explanation:

A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied. ... If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied.