The Supply Curve Slopes Up and to the Right Because

question 207

Multiple Choice

The supply curve slopes up and to the right because

• A) due to constant opportunity costs, producers feel that people will buy more if they charge a higher price.
• B) due to efficiencies, producers feel that people will buy more if they charge a higher price.
• C) due to increasing opportunity costs, producers must charge more to produce additional units in order to cover their costs.
• D) The supply curve actually slopes down and to the right.

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Definitions:

Autonomy to Adapt

The ability of an entity or individual to independently modify behaviors or methods in response to changing conditions.

Low-Cost Strategy

Low-cost strategy is a competitive approach where a company aims to become the lowest cost producer in its industry, offering products or services at a price lower than its competitors to attract cost-sensitive customers.

Differentiation Strategy

A business strategy where a company seeks to distinguish its products or services from competitors, typically through quality, design, or unique features.

Profitable Growth

An increase in revenue that leads to enhanced profitability, reflecting both expansion and efficient operations.