The supply curve is upward sloping because other things equal, a higher demand means greater quantity supplied. other things equal, a higher income means greater quantity supplied. other things equal, a lower wage means greater quantity supplied. other things equal, a higher price means greater quantity supplied.

The supply curve is upward sloping because other things equal, a higher demand means greater quantity supplied. other things equal, a higher income means greater quantity supplied. other things equal, a lower wage means greater quantity supplied. other things equal, a higher price means greater quantity supplied.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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