An upward-sloping supply curve implies that:
A. quantity supplied increases when price decreases.
B. there is no relationship between price and quantity supplied.
C. quantity supplied increases when price increases.
D. the law of supply is invalid.
Answer: C
Economics
You might also like to view...
Suppose the star pitcher on a university's baseball team, who is now a sophomore, decides to finish college instead of joining a major league team. In doing this, he is giving up a $40,000 salary for each of the next two years. At an interest rate of 10 percent, the total value of this sacrifice is approximately
a. $46,000 b. $77,777 c. $69,420 d. $80,000 e. $88,000
Economics
Positive economics is:
A. more objective than normative economics. B. more subjective than normative economics. C. neither objective nor subjective. D. subjective.
Economics