0
Q:
A) horizontal | B) downward sloping to the right |
C) vertical | D) upward sloping to the right |
Answer: D) upward sloping to the right
Explanation:
Explanation:
Although demand curves are typically downward sloping to reflect that consumers’ utility for a good diminishes with increased consumption, firm supply curves are generally upward sloping.The upward sloping character reflects that firms will be willing to increase production in response to a higher market price because the higher price may make additional production profitable.