An upward-sloping supply curve shows that:
a. buyers are willing to pay more for particularly scarce products
b. suppliers expand production as the product price falls.
c. suppliers are willing to increase production of their goods if they receive higher prices for them.
d. buyers are willing to buy more as the product price falls.
e. buyers are not affected either directly or indirectly by the sellers' costs of production.
c
Economics
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The above table shows the distribution of wealth and income in Miseria. What percent of wealth is owned by the poorest twenty percent?
A) 0 percent B) 2 percent C) 3 percent D) 5 percent
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Which of the following would be considered open-access common property?
A) a library B) the world wide web C) a company gym D) broadcast television
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