Question

Observe the following table and answer the questions:

Supply schedule of chocolates

Price in ₹	Quantity supplied in units
10	200
15	______
20	300
25	350
30	______
35	______
40	______

1. Complete the above supply schedule.
2. Draw a diagram for the above supply schedule.
3. State the relationship between price and quantity supplied.

Answer 1

a.

Price in ₹	Quantity supplied in units
10	200
15	250
20	300
25	350
30	400
35	450
40	500

b.

c.

• There is a direct relationship between price and quantity supplied.
• The supply curve is a positive slope.
• As the price increases quantity supplied also increases.
• At the lowest price, 10 quantity supplied is less than 200, at the highest price 40 the quantity supplied us the highest 500.
• The supply curve moves upward from left to right.