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Q:
A) an increase in price gives producers an incentive to supply a larger quantity. | B) the quantity supplied of most goods and services increases over time. |
C) an increase in input prices increases supply. | D) as more is produced, total cost of production falls. |
Answer: A) an increase in price gives producers an incentive to supply a larger quantity.
Explanation:
Explanation:
The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production.