Mary is a producer of water bottles. When the price is $10 per bottle, she supplies 100 bottles. If the price falls to $7, she will decrease the quantity supplied to 70 bottles. If the price rises to $15, she will increase the quantity supplied to 150 bottles. Part 3 The supply curve has a slope. Which of the following statements is true if the supply curve is curve shaped (nondashlinear)?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Mary is a producer of water bottles. When the price is $10 per bottle, she supplies 100 bottles.
If the price falls to $7, she will
decrease
the quantity supplied to
70
bottles.
If the price rises to $15, she will
increase
the quantity supplied to
150
bottles.
Part 3
The supply curve has a
slope.
Which of the following statements is true if the supply curve is curve shaped (nondashlinear)?
Transcribed Image Text:Mary is a producer of water bottles. When the price is $10 per bottle, she supplies 100 bottles. If the price falls to $7, she will decrease the quantity supplied to 70 bottles. If the price rises to $15, she will increase the quantity supplied to 150 bottles. Part 3 The supply curve has a slope. Which of the following statements is true if the supply curve is curve shaped (nondashlinear)?
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