A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices is called a supply curve. This curve is typically upward-sloping, reflecting that as the price of the good increases, sellers are generally willing to supply more of it to the market
. The supply curve visually represents how quantity supplied changes in response to price changes, illustrating the law of supply which states that higher prices incentivize producers to supply more
. In contrast, a supply schedule is a table listing the quantities supplied at different prices, which can be used to plot the supply curve graphically
. The supply curve is a fundamental concept in economics for understanding producer behavior and market dynamics.
