With an upward-sloping supply curve, which of the following is true?

a. An increase in price results in a decrease in quantity supplied.
b. An increase in price results in an increase in supply.
c. A decrease in price results in a decrease in quantity supplied.
d. A decrease in price results in an increase in supply.

c

Economics

You might also like to view...

A decrease in the incomes of people who buy canoes would cause the demand for canoes to decrease

Indicate whether the statement is true or false

Economics

Only two states do not have state personal income taxes

a. True b. False

Economics