A Supply Curve Typically Slopes Upward Because

question 82

Multiple Choice

A supply curve typically slopes upward because:

• A)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:

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