Question

Santiago is a new analyst working to create a supply curve graph. His boss at Legoland asked him to create one to highlight the historical relationship of the price of park tickets and the quantity supplied. Santiago put the identified ticket prices and quantities in a table. He is about to create the graph, but is double checking with you since you've created one before. Santiago has put the prices on the x-axis and the quantity supplied on the y-axis. What would you tell him to do next? Price ($) Quantity Supplied $591000 $671500 $792000 $832500 $97 2800 $105 3100 $1203500 O Plot these points as a demand curve graph sloping down to the right with price on the y-axis and quantity supplied on the x-axis. o Plot these points on a graph with graph sloping up to the right keeping quantity supplied on the y-axis and price on the x-axis O Plot these points on a graph sloping up to the right with and change it to price on the y-axis and quantity supplied on the x-axis.

Answer 1

Ans) the correct option is c) plot these points on a graph sloping up to the right with and change it to the price on the y axis and quantity supplied on x axis.

The supply curve shows the positive relationship between price and the quantity supplied so it slopes upward meaning quantity supplied increases as price increases.