In general, supply curves slope upward because: a. increases in ...

[cdr_15]

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.

[Li Jun]

Answer to Question 1

b

Answer to Question 2

c

[cdr_15]

YES! Correct, THANKS for helping me on my review

[kilada]

Thanks for the timely response, appreciate it