Currently Tire Producers Must Receive a Price of $50 Per

question 92

Multiple Choice

Currently tire producers must receive a price of $50 per tire to produce 5000 tires. If the supply curve of tires is upward sloping, then to produce one additional tire, tire producers will need to receive a price of

• A) $50.
• B) less than $50.
• C) more than $50.
• D) $0.

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