When you make a graph of a supply curve, what do you measure on the y-axis? How does Aqua's quantity supplied change as the price of bottled water rises?A graph of the supply curve measures the ____ on the y-axis, and when the price of bottled water rises, Aqua's quantity supplied _____.A. Price of the good; increasesB. quantiy supplied; increasesC. quantity supplied; does not changeD. price of the good; decreases To graph the supplyschedule, we label theaxes. The x-axis measuresthe quantity supplied asthousands of bottles perday and the y-axismeasures the price asdollars per bottle.Now plot the quantitysupplied at each price.CNow draw Aqua'ssupply curve.The supply curve showsthe relationship betweenthe quantity suppliedand price, other thingsremaining the same.Quantity(thousands ofbottles per day)A 3B 2C 1D 0ResetPrice(dollarsper bottle)2.001.501.000.50Price (dollars per bottle)2.502.001.501.000.50OSupplycurveB123Quantity (thousands of bottles per day)

A supply curve shows the relationship between the quantity supplied and the price of the good. The…

Answered: When you make a graph of a supply…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When you make a graph of a supply curve, what do you measure on the y-axis? How does Aqua's quantity supplied change as the price of bottled water rises?
A graph of the supply curve measures the ____ on the y-axis, and when the price of bottled water rises, Aqua's quantity supplied _____.
A. Price of the good; increases
B. quantiy supplied; increases
C. quantity supplied; does not change
D. price of the good; decreases

To graph the supply
schedule, we label the
axes. The x-axis measures
the quantity supplied as
thousands of bottles per
day and the y-axis
measures the price as
dollars per bottle.
Now plot the quantity
supplied at each price.
C
Now draw Aqua's
supply curve.
The supply curve shows
the relationship between
the quantity supplied
and price, other things
remaining the same.
Quantity
(thousands of
bottles per day)
A 3
B 2
C 1
D 0
Reset
Price
(dollars
per bottle)
2.00
1.50
1.00
0.50
Price (dollars per bottle)
2.50
2.00
1.50
1.00
0.50
O
Supply
curve
B
1
2
3
Quantity (thousands of bottles per day)

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