Complete the sentences regarding the relationship between price and quantity supplied.

There exists a[n)

relationship between the price and quantity supplied and thus a supply curve is

There exists a positive relationship between the price and quantity supplied and thus a supply curve is upward sloping

Explanation:

All things being equal, when the price of a good increases, the quantity supplied increases as there would be more suppliers in the market or existing suppliers would be willing to do more. The same is also the case if the price falls, supply would fall

When we plot a graph with price and quantity, we noticed that it slopes upwards as quantity increases as prices does