Questions

Rajnish Kumar, 59, the senior most of the managing directors at State Bank of India (SBI), became the 25th chairman of the country’s largest lender, succeeding Arundhati Bhattacharya.

Although demand curves are typically downward sloping to reflect that consumers’ utility for a good diminishes with increased consumption, firm supply curves are generally upward sloping.The upward sloping character reflects that firms will be willing to increase production in response to a higher market price because the higher price may make additional production profitable.