A Supply Curve Typically Slopes Upward Because _____

question 72

Multiple Choice

A supply curve typically slopes upward because _____

• A) the opportunity cost of production increases as quantity supplied increases.
• B) price and quantity supplied are inversely related.
• C) quantity supplied is positively related to consumer income.
• D) the substitution effect of a price change on quantity supplied is generally positive.
• E) the income effect of a price change on quantity supplied is generally negative.

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Definitions:

Begging the Question

A logical fallacy where the argument assumes the truth of the conclusion rather than providing evidence for it.

Argumentum Ad Populum

is a fallacy that concludes a proposition is true because many or most people believe it.

Bandwagon Fallacy

A logical fallacy where one assumes something is true or right because it is popular or because others are doing it.

Unethical Leader

A leader who acts in self-interest, violating moral principles, and often causing harm to the organization, employees, or society at large.