Question: Why does a supply curve slope upward?Consider the graph. In the market for jeans, which of the following would cause a shift from Supply 1
Why does a supply curve slope upward?Consider the graph. In the market for jeans, which of the following would cause a shift from Supply 1 to Supply 2? a.) New technology that cuts production time in half b.) Jeans suddenly become the "it" item to have for the new season c.) Increase in the price of jeans d.) Increase in the price of cotton a.) Because costs of production eventually decrease b.) Because there is an inverse relationship between price and the quantity supplied c.) Because as prices increase, producers are willing and able to supply more d.) Because as prices increase, the opportunity cost of producing goods decreases
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