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Briana Bradford
Law
23 July, 12:30
Are all supply curves upward sloping
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Cali Pittman
23 July, 12:39
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Yes, because you want to assume that the producer wants to make more product to make more money.
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Annie Villanueva
23 July, 12:45
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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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