Question

Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, the quantity of soup demanded decreases. this confirms the

Answer 1

Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, the quantity of soup demanded decreases. This confirms the Law of Supply and Demand which states that the supply is inversely proportional to the demand. Simply speaking, whenever there is an increase in the price, the supplier tends to produce an excess supply even though the demand is low to generate a greater profit.