The supply curve for apartments in Calgary reflects how many

The supply curve for apartments in Calgary reflects how many apartments landlords are willing and able to offer for rent at a specific price.

False /True

Solution

Supply curve depicts the graphical relationship between price of a commodity and its quantity supplied.

In other words, supply curve shows the quantity of a commodity that the producer is willing and able to supply at various prices.

Supply curve alwys slope upwards because as price of comodity increases, supplier\'s willingness and ability to supply commodity also increases and thus he supplies larger quantity with each successive increase in price and vice-versa.

Thus, supply curve reflects the quantity that a producer is willing and able to offer at specific price.

The same is stated in the given statement.

Thus, the supply curve for apartments in Calgary, indeed, reflects how many apartments landlords are willing and able to offer for rent at a specific price.

Hence, the given statement is TRUE.