A normal supply curve has a positive slope which indicates that
ECONOMICS
WAEC 2014
A normal supply curve has a positive slope which indicates that
- A. sellers are willing to sell more at a lower price
- B. sellers are indifferent to prices
- C. sellers are willing to sell more at a higher price
- D. there is always a fixed supply
Correct Answer: C. sellers are willing to sell more at a higher price
Explanation
A supply curve will normally slope upwards (positive) because sellers like it when they're selling at higher prices than lower ones. So they're more willing to sell at higher prices than lower ones.
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