Why are supply curves typically upward-sloping? SELECT THE CORRECT ANSWER a.They slope upward because sellers prefer to sell more when prices are lower. b.They slope upward because higher prices lead individual businesses to supply a larger quantity and more businesses are willing to supply goods and services. c.They slope upward due to the law of demand. d.They slope upward because sellers demand more when prices are lower.
Why are supply curves typically upward-sloping? SELECT THE CORRECT ANSWER a.They slope upward because sellers prefer to sell more when prices are lower. b.They slope upward because higher prices lead individual businesses to supply a larger quantity and more businesses are willing to supply goods and services. c.They slope upward due to the law of demand. d.They slope upward because sellers demand more when prices are lower.
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 3MC
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Why are supply
SELECT THE CORRECT ANSWER
a.They slope upward because sellers prefer to sell more when prices are lower.
b.They slope upward because higher prices lead individual businesses to supply a larger quantity and more businesses are willing to supply goods and services.
c.They slope upward due to the law of demand .
d.They slope upward because sellers demand more when prices are lower.
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