Question on: JAMB Economics - 2003
A normal supply curve is usually positively sloped because the relationship between
A
price and supply is positive
B
demand and price is positive
C
supply and price is negative
D
price and demand is negative
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Correct Option: A
A normal supply curve is positively sloped. This means that as the price of a good or service increases, the quantity supplied by producers also increases, and vice versa. This positive relationship between price and supply is the fundamental reason for the upward slope.
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