One reason why supply curves slope upward to the right is because:
A)higher prices attract resources from other uses.
B)most goods are necessities.
C)otherwise they would not intersect demand curves.
D)marginal cost is less than elasticity of demand.

Question

Quizplus · Accepted Answer

Higher prices attract resources from other uses, meaning that as prices increase, producers are willing to allocate more resources to produce a good, causing an increase in its supply. This results in an upward sloping supply curve.

One Reason Why Supply Curves Slope Upward to the Right