Which of the following characteristics leads to an upward-sloping supply curve? Instructions: Click the box with a check mark for correct or click a second time to clear the box for incorrect. Increasing opportunity costs unanswered Increasing marginal costs unanswered Diminishing marginal utility unanswered A decrease in resource prices unanswered An increase in resource prices unanswered Increasing labor productivity

Question

Nathaniel Shah

Business

20 December, 17:36

Which of the following characteristics leads to an upward-sloping supply curve? Instructions: Click the box with a check mark for correct or click a second time to clear the box for incorrect. Increasing opportunity costs unanswered Increasing marginal costs unanswered Diminishing marginal utility unanswered A decrease in resource prices unanswered An increase in resource prices unanswered Increasing labor productivity

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Answers (1)

Know the Answer?

Laurel Knapp · Answer 1

-Increasing opportunity costs

-Increasing marginal costs

-Increase labor productivity

Explanation:

A supply curve is a graphical form of representation of the price of the product and the quantity of the product which the seller can supply in the market. The supply curve slopes towards upward. This represents that the higher price brings with it an increase in the high amount of profit. Also, there is a direct relationship among the quantity of the commodity and the price which he is willing to sell.