JAMB - Economics (2009 - No. 8)
A supply curve is positively sloped because
supply always exceeds demand
demand always exceeds supply
price is an incentive to consumers
price is an incentive to producers
Explanation
A supply curve is positively sloped because as the price of a commodity increase in the market, the amount supplied increases. Producers will be wiling to supply more of their products as prices increase.
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