Ask Question
18 December, 23:15

Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, the quantity of soup demanded decreases. this confirms the

+1
Answers (1)
  1. 18 December, 23:43
    0
    Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, the quantity of soup demanded decreases. This confirms the Law of Supply and Demand which states that the supply is inversely proportional to the demand. Simply speaking, whenever there is an increase in the price, the supplier tends to produce an excess supply even though the demand is low to generate a greater profit.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers