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The Basics of Supply
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The Basics of Supply
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3. Supply and Demand / The Basics of Supply / Problem 6
Problem 6
How would you graphically represent a supply curve using the supply schedule: \$2 - 20 units, \$4 - 40 units, \$6 - 60 units?
A
Plot the price on the x-axis and quantity on the y-axis, then connect the points to form an upward-sloping line.
B
Plot the price on the y-axis and quantity on the x-axis, then connect the points to form a downward-sloping line.
C
Plot the price on the x-axis and quantity on the y-axis, then connect the points to form a downward-sloping line.
D
Plot the price on the y-axis and quantity on the x-axis, then connect the points to form an upward-sloping line.
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