If the market supply curve slopes upward
A)each unit of the good costs more to produce than previously produced units did
B)each unit of the good is worth more than the market price
C)each unit of the good is worth the market price paid for it.
D)the market is efficient
E)the market must be imperfectly competitive

Question

Quizplus · Accepted Answer

An upward-sloping supply curve indicates that as the quantity supplied increases, the cost of producing additional units rises, leading to higher prices.

If the Market Supply Curve Slopes Upward