The Basic Reason That Supply Curves Slope Upward Is That

question 79

Multiple Choice

The basic reason that supply curves slope upward is that

• A)demand curves slope downward
• B)production is characterized by increasing costs
• C)profits decline as product prices rise
• D)greater output can only result from improved technology
• E)price and quantity supplied are inversely related

Understand the use of enclosure notations in business letters.

Know the proper setup for memo headings.

Understand the specifications for mailing and formatting in U.S. business practices.

Understand the different documentation styles used in academic and professional writing.

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Definitions:

International Law

A body of rules, agreements, and treaties that govern the conduct and relations between different nations and states.

Public Purpose

This term refers to an underlying principle that government actions must serve the general interests of the community or public at large, rather than private interests.

Just Compensation

A principle requiring that when private property is taken for public use, the owner must be fairly compensated.

Trade Agreements

Contracts between two or more nations that outline how they will work together to ensure mutual benefit in trade.