Question
The graph shows the price of a good compared to the quantity supplied.
A graph titled Supply of Cars has Quantity Supplied on the x-axis, from 0 to 10, and Price in thousands of dollars on the y-axis, from 0 to 30. Point (S 1, P 1) is at (3, 20) and points (S 2, P 2) is at (8, 25).
This graph demonstrates how
the amount produced slightly changes with the price.
the amount produced greatly changes with the price.
the amount consumed slightly changes with the price.
the amount consumed greatly changes with the price.
A graph titled Supply of Cars has Quantity Supplied on the x-axis, from 0 to 10, and Price in thousands of dollars on the y-axis, from 0 to 30. Point (S 1, P 1) is at (3, 20) and points (S 2, P 2) is at (8, 25).
This graph demonstrates how
the amount produced slightly changes with the price.
the amount produced greatly changes with the price.
the amount consumed slightly changes with the price.
the amount consumed greatly changes with the price.
Answers
GPT-4o mini
Based on the description of the graph you provided, it shows that as the quantity supplied increases from 3 to 8 (an increase of 5 units), the price increases from 20 to 25 thousand dollars (an increase of 5 thousand dollars). This indicates a significant change in the quantity supplied in relation to a change in price, suggesting that producers respond to higher prices by supplying much more of the good.
Therefore, the correct interpretation is:
**the amount produced greatly changes with the price.**
Therefore, the correct interpretation is:
**the amount produced greatly changes with the price.**