A firm supply curve is upsloping because: the expansion of production necessitates the use of qualitatively inferior inputs. mass production economies are associated with larger levels of output. consumers envision a positive relationship between price and quality. beyond some point the production costs of additional units of output will rise.
A firm supply curve is upsloping because: the expansion of production necessitates the use of qualitatively inferior inputs. mass production economies are associated with larger levels of output. consumers envision a positive relationship between price and quality. beyond some point the production costs of additional units of output will rise.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A firm supply curve is upsloping because:
the expansion of production necessitates the use of qualitatively inferior inputs.
mass production economies are associated with larger levels of output.
consumers envision a positive relationship between
beyond some point the production costs of additional units of output will rise.
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