The Supply Curve for IPhones Is Upward-Sloping Because

question 141

Multiple Choice

The supply curve for iPhones is upward-sloping because

• A)when the price of an iPhone rises, it must be due to increased costs in producing iPhones, so producers must charge more.
• B)a higher iPhone price gives shoe producers incentive to produce more iPhones.
• C)iPhones are produced by only a few producers.
• D)iPhone producers always want to satisfy the demand for iPhones by consumers.
• E)as the price of an iPhone rises, per-unit costs of production fall.

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