3. The Market Forces of Supply and Demand

A firm's supply curve is upsloping because:

In a competitive market, the market supply curve indicates the relationship between which two variables, holding other factors constant?

When drawing a supply curve, what is labeled on the vertical axis?

In microeconomics, the law of supply states that, holding other factors constant, what happens to the quantity supplied of a good when its price increases?

Which of the following best describes a normal supply curve?

Which of the following is true of the supply curve of a good?

In microeconomics, what does a supply schedule show?

The relationship between price and quantity supplied is typically:

For any competitive market, the supply curve is closely related to the:

What do the points on a market supply curve represent?

Which of the following best describes the concept of supply in microeconomics?

How is a supply curve typically plotted in microeconomics?

In microeconomics, what does a supply curve show?