brianaicart brianaicart
  • 14-04-2020
  • Law
contestada

Are all supply curves upward sloping

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tianaatterson tianaatterson
  • 14-04-2020
The answer is yes

The primary reason the supply curve slopes upward is because of potential for profit. Essentially, the supply curve illustrates how much a firm is willing to sell or supply, based strictly on firms in perfect competition. If a firm is in perfect competition, it will follow equilibrium principles and will be taking simple, economic steps towards making a profit.
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Jewpiter
Jewpiter Jewpiter
  • 14-04-2020
Yes, because you want to assume that the producer wants to make more product to make more money.
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