Individual supply curves generally slope ________ because ________.
A)downward; sellers become more efficient with practice.
B)upward; profits increase with quantity.
C)downward; inputs are cheaper when purchased in high volume.
D)upward; of increasing opportunity costs.

Question

Quizplus · Accepted Answer

Consistent with the Principle of Increasing Opportunity Cost, in expanding production of any good, firms will first employ those resources with the lowest opportunity cost, and only afterwards will turn to resources with higher opportunity costs.

Individual Supply Curves Generally Slope ________ Because ________

Individual Supply Curves Generally Slope Because