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The Supply Curve showcases the positive relationship referred to by the law of supply (2.2.1) in a graph. Hence, higher prices lead to more quantity supplied, ceteris paribus.
The figure above showcases a supply curve ($S$) that is upward-sloping due to the law of supply:
Three important points to make sure of when drawing the supply diagram.
In some scenarios, the supply curve may be vertical. A vertical supply curve indicates that:
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