Question

Your coworker Ginny is really concerned about a project that she has just been assigned. She is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.
If Ginny's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions supplied you would advise your coworker to construct _____ using the data provided.

a. a supply curve
b. the law of supply
c. a supply curve

However, if Ginny's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that a _____ would be more appropriate.

a. supply schedule
b. supply curve
c. law of supply

Answer 1

If Ginny's boss wants to get the graphical representation of the relationship between the price and quantity of televisions supplied, then he would use th:

• a. a supply curve

However, if he is interested in the visual representation, then he would have to use the:

• a. supply schedule

What is a Supply Curve?

This refers to the representation of the relationship which exists between the price and supply of a particular good.

With this in mind, we can see that the best way to display the set of data in a graphic format is with the use of the supply curve while the representation of data in a visual format would be the use of a supply schedule.

Read more about supply curve here:

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