The relationship between quantity supplied and price is _____, and the relationship between quantity demanded and price is _____
.
1 answer:
Answer:
Direct
Inverse
Explanation:
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The relationship between quantity supplied and price is direct because the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied. This results in an upward sloping supply curve.
the relationship between quantity demanded and price is inverse because the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This explains why the demand curve is downward sloping.
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