Question

he world supply curve slopes upward because, as the world price of a product falls: producers want to sell a smaller quantity. consumers want to buy a smaller quantity. producers want to sell a larger quantity. consumers want to buy a larger quantity.

Answer 1

The supply curve slopes upward represents increasing marginal costs with an increase in production.

Why does the supply curve slopes upward?

Because businesses would typically be more motivated to produce a good as its price increased, the supply curve slopes higher. Additionally, because companies are effective and would use up the cheapest manufacturing inputs first, the cost of production tends to grow as output increases.

What are the reasons why the supply curve increases or decreases?

The market becomes unbalanced as a result of a change in supply shifting the supply curve, which is then corrected by a change in pricing and demand. The supply curve changes right when the change in supply increases, while it shifts left when the change in supply decreases.

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