What is the implication of the positive slope of the supply curve?
So, the supply curve slope is positive, indicating that as prices of products increase, firms increase their production, thereby increasing the quantity supplied to get more profits.
Example if you positive slope of the supply curve:
because costs of production increase as output increases.
price and quantity supplied are inversely related
When the supply curve is upward sloping, its slope is positive.
it reflects the higher price needed to cover the higher marginal cost of production.
Answers & Comments
What is the implication of the positive slope of the supply curve?
So, the supply curve slope is positive, indicating that as prices of products increase, firms increase their production, thereby increasing the quantity supplied to get more profits.
Example if you positive slope of the supply curve: