Question

1. Brief statement of the research topic and problem. As you get the dataset from me, you would need to use some imagination what research problem that data could be related to. Nevertheless, please state very briefly (i.e. in one paragraph) what theory (research literature or textbooks related to business or economics) says about the research problem – e.g. is there some dilemma or controversy that your research will help to clarify.

Price	Quantity supplied
€11,00	6
€11,90	6
€12,00	6
€12,30	10
€12,50	10
€12,60	6
€12,70	6
€13,40	8
€13,90	11
€14,10	7
€14,20	8
€14,30	7
€14,30	7
€14,50	7
€14,50	12
€14,50	7
€14,80	7
€15,20	8
€15,60	8
€16,20	8
€16,40	10
€16,70	14
€17,00	8
€17,30	21
€17,30	8
€18,00	9
€18,20	12
€20,00	14
€21,00	15
€22,70	20

Answer 1

The above data tells the price of a service or good and the quantity of supply for that good or service at that particular price.

Here we can see that the price goes on increasing and the quantity supplied is fluctuating without a certain pattern. We can see here that quantity supply is either decreasing or increasing with price .

It states that the price of that good or service is considered from different month to different month or even years. So it means it is a data of a particular period of time. That is the reason for the variation in quantity supply without a certain pattern.