Q.5. Observe the following table and answer the question: (A) Supply schedule of chocolates 2. State the relationship between price and quantity supplied

Q.5. Observe the following table and answer the question:

(A) Supply schedule of chocolates.

2. State the relationship between price and quantity supplied

 

Price in ₹

Quantity supplied in units

10

200

15

250

20

300

25

350

30

400

35

450

40

500


Solution:-- 

a. There is a direct relationship between price and quantity supplied.

b. The supply curve is a positive slope.

c. As the price increases the quantity supplied also increases.

d. At the lowest price 10 quantity supplied is less 200, at the highest price 40 the quantity supplied us the highest 500.

e. Supply curve moves upward from left to right.

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