The Basic Reason That Supply Curves Slope Upward Is That

question 79

Multiple Choice

The basic reason that supply curves slope upward is that

• A)demand curves slope downward
• B)production is characterized by increasing costs
• C)profits decline as product prices rise
• D)greater output can only result from improved technology
• E)price and quantity supplied are inversely related

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Definitions:

Talcott Parsons

An American sociologist known for his contributions to social action theory and for developing the framework of structural functionalism.

Polity

An organized society or state as a political entity, including its governance, constitution, and political principles.

Political Subsystem

The political subsystem refers to the components and structures within a society that are responsible for decision-making, governance, and the implementation of laws and policies.

Imperative

is something that is considered necessary or of utmost importance.