why supply curve slope upward

1 answer

Most supply and demand curves assume perfect competition.
An increase in Q (quantity, horizontal axis) means there is a bigger demand (in a competitive market), so price goes up.
On the other hand, when there is low demand for the commodity (Q goes to the left), suppliers tend to "dump" goods at a lower price.
All this result in a supply curve going upwards.
See, for example, further explanations at
https://en.wikipedia.org/wiki/Supply_and_demand
Similar Questions
    1. answers icon 0 answers
  1. Why do supply curves slope upward from left to right?Why don't we sometimes draw them sloping downward from left to right? Under
    1. answers icon 2 answers
  2. The wealth effect is reflected in:increases in interest rate to savers the upward slope in aggregate supply the upward slope in
    1. answers icon 1 answer
    1. answers icon 0 answers
more similar questions