The market supply curve slopes upwards from left to right indicating that
Answer Details
The market supply curve slopes upwards from left to right indicating that at a higher price, more is supplied and at a lower price, less is supplied. The upward slope of the supply curve indicates that as the price of a good or service increases, producers are willing to supply more of it, and as the price decreases, they are willing to supply less of it. This is because producers are motivated by profit, and higher prices lead to higher profits, making it more attractive to supply more of the good or service. Conversely, lower prices mean lower profits, which make it less attractive to supply the good or service. Therefore, the upward slope of the market supply curve indicates that at a higher price, more is supplied, and at a lower price, less is supplied.