Q:
When some goods or productive factors are completely fixed in amount, regardless of price, the supply curve is
Answer & Explanation
Answer: D) upward sloping to the right
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.
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