To Say That the Supply Curve Is Positively Sloped Means

question 98

Multiple Choice

To say that the supply curve is positively sloped means that

• A)as price goes up, quantity supplied will remain constant.
• B)as price goes up, quantity supplied will increase.
• C)households will want to buy less at higher prices.
• D)as price goes up, quantity supplied will decrease.
• E)if the costs of production increase, the quantity supplied will have to increase also.

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Definitions:

Super-Priority Lien

A lien that takes precedence over all existing liens on a property, ensuring that a particular creditor is paid before any others in the event of a default.

Ace

A term often associated with achieving excellence or a high level of skill in a particular area.

Contractor

A person or corporation that agrees to a contract to supply materials or workforce to execute a service or complete a task.

Lien

A legal right or claim against a property by a creditor to ensure the payment of a debt.