A supply curve;
(a) Can have either an upward or downward slope depending on whether individuals or firms are considered.
(b) Is always upwards sloping because as price increases, more is supplied.
(c) Slopes downwards because firms can sell more products when prices fall.
(d) Slopes downwards because as greater quantities are produced, average cost of production will fall.
Ans: (b) Is always upwards sloping because as price increases, more is supplied.
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a. gives the biological and chemical water attributes to meet water quality standards b. is one of two components of receiving water quality standards c. identifies the intended purposes of a water body d. all of the above e. (b) and (c) only
The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls Per HourNumber of Telephones Per HourNumber of Workers Per Hour11221461616182211024112 What is the total cost of making 6 calls an hour?
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the slope of the consumption = the _______ propensity to consume
What will be an ideal response?
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