One reason that supply curves display positive slope is that:
A) expanded production may require the use of superior resources.
B) people are not willing to pay a higher price for more goods.
C) expanded industry output might cause a labor shortage and subsequently increase the wage rate included in the cost of production.
D) extra production brings in the more efficient, lower-cost producers.
E) the law of diminishing returns is important to producers.
Correct Answer:
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Q19: In a standard supply-and-demand diagram, what happens
Q20: A drought would probably:
A)cause wheat suppliers to
Q21: Use the following to answer questions :
Figure
Q22: Use the following to answer questions :
Figure
Q23: Good growing conditions for wheat would probably
A)increase
Q25: Upward-sloping supply curves are the result of:
A)increasing
Q26: According to the law of demand:
A)the intersection
Q27: Use the following to answer questions :
Figure
Q28: If you were a government official and
Q29: When we say that a price in
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