A Supply Curve Slopes Upward Because

question 173

Multiple Choice

A supply curve slopes upward because

• A)​as more is produced, total cost of production falls.
• B)​many firms will experience increases in their costs of production as their output rises so they need a higher price in order to induce them to produce more output.
• C)​the higher the price per unit, the greater the profitability generated by supplying more of that good.
• D)​both (b) and (c).

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