(a) explain in practical terms what the supply curve tells us. the supply increases as the price increases…

(a) explain in practical terms what the supply curve tells us. the supply increases as the price increases. the supply decreases as the price increases. the supply does not change as the price increases. (b) explain in practical terms what the demand curve tells us. the demand increases as the price increases. the demand decreases as the price increases. the demand does not change as the price increases. resources read it

(a) explain in practical terms what the supply curve tells us. the supply increases as the price increases. the supply decreases as the price increases. the supply does not change as the price increases. (b) explain in practical terms what the demand curve tells us. the demand increases as the price increases. the demand decreases as the price increases. the demand does not change as the price increases. resources read it

Answer

Brief Explanations:

(a) In economics, suppliers are more willing to produce and sell when prices are higher, so supply increases as price increases. (b) Consumers generally buy less when prices are higher, so demand decreases as price increases.

Answer:

(a) The supply increases as the price increases. (b) The demand decreases as the price increases.