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Author Question: In general, supply curves slope upward because: a. increases in the price of a good result in lower ... (Read 40 times)

cdr_15

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on: Jun 30, 2018
In general, supply curves slope upward because:
 a. increases in the price of a good result in lower opportunity costs.
  b. rising prices provide producers with a greater profit incentive.
  c. consumers buy a greater quantity.
  d. technology improves the ability of firms to produce more at each possible price.

Question 2

Which of the following states the definition of supply?
 a. More of a good is supplied at a lower price.
  b. There is a positive relationship between the price of a good and the quantity that buyers purchase.
  c. There is a positive relationship between the price of a good and the quantity offered for sale by suppliers.
  d. There is a negative relationship between the price of a good and the quantity offered for sale by suppliers.


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Li Jun

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


cdr_15

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

kswal303

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Reply 3 on: Yesterday
:D TYSM

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