Supply Curves Generally Slope Upward Because of All of the Following

question 165

Multiple Choice

Supply curves generally slope upward because of all of the following reasons except one.Which is the exception?

• A)Producers are willing to offer more of a good at higher prices.
• B)A higher price attracts resources from less-valued uses.
• C)Producers must be compensated for the rising opportunity cost of additional output.
• D)Producers have a greater incentive to sell more as the price increases.
• E)The price of a good usually must fall to induce an increase in quantity supplied.

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Definitions:

Lockout

An action taken by employers to prevent workers from entering the workplace during a labor dispute, essentially reversing a strike.

Management Rights

The legal and contractual rights that allow employers to manage, direct, and control their operations and workforce.

Withholding Labor

A tactic used by workers, such as in a strike, where they refuse to work in order to pressure employers to meet their demands.

Employer's Cost

The total expenses incurred by employers to compensate employees, including wages, benefits, taxes, and insurance.