The graph shows the market for graphic T-shirts.
Price in Dollars
18
16
14
12
10
8
4
2
10
20
40
Quantity Supplied
→
50
What does the graph show about the relationship
between a product and its price?
O As the amount of a product goes up, the price goes
up.
O As the amount of a product goes down, the price
goes up.
O As the interest in a product goes up, the price goes
up.
O As the interest in a product goes down, the price goes
up.
Answers
Answer 1
The relationship between a product and its price is that as the interest in a product goes up, the price goes up. Thus, Option C is the correct statement.
What is the relationship between a product and its price?The theory of price states that, the price is affected by various factors in the market and these factors can influence the price of the product.
The factors may be as follows -
Income of the consumers.Price of substitute goods.Price of complementary goods.Taste and preferences of consumers.Thus, the relationship between a product and its price is that as the interest in a product goes up, the price goes up. Thus, Option C is the correct statement.
Learn more about price at:
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Full Question:
Although part of your question is missing, you might be referring to this full question:
The graph shows the market for graphic T-shirts.
What does the graph show about the relationship between a product and its price?
As the amount of a product goes up, the price goes up.
As the amount of a product goes down, the price goes up.
As the interest in a product goes up, the price goes up.
As the interest in a product goes down, the price goes up.
See attached image.
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