The Supply Curve Slopes Up and to the Right

question 36

True/False

The supply curve slopes up and to the right.If the demand curve shifts upward to a new curve which is everywhere higher than the old curve (but possibly of different slope)and if the supply curve does not shift, then the equilibrium price and quantity must necessarily increase.

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Definitions:

Persuasion

The act of convincing someone to do or believe something through reasoning or the use of temptation.

Need For Cognition

A psychological trait that describes an individual's inclination towards engaging in and enjoying thinking and analytical activities.

Critically And Analytically

Engaging with information or problems in a way that involves careful judgment and the use of logical reasoning.

Persuadability

The quality or characteristic of being easily influenced or convinced by arguments, appeals, or suggestions.