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Supply curves are positively sloped because?
The Supply Curve has a positive slope because as the selling price of the product increases, the willingness of producers to create that product increases as well. With the greater incentive to make that product, production will rise in direct proportion to how much price increases.
How are supply schedule and supply curve related?
Supply schedule and supply curve and related in the sense that there exists an important relationship between supply and demand. The greater the supply curve, the greater the supply schedule.
What method does OPEC used to increase its profits?
Limiting the supply of oil
What happens to the aggregate supply curve as the price level increases?
Firms have more of an incentive to increase output
What happens when demand is greater than demand?
When demand is greater than supply a supply shortage or scarcity arises and prices increase.
Supply curves are positively sloped because?
The Supply Curve has a positive slope because as the selling price of the product increases, the willingness of producers to create that product increases as well. With the greater incentive to make that product, production will rise in direct proportion to how much price increases.
Making profits off of goods that are in short supply?
profiteering
According to aggregate supply curve what happens as the price level increases?
firms have more of an incentive to increase output
How are supply schedule and supply curve related?
Supply schedule and supply curve and related in the sense that there exists an important relationship between supply and demand. The greater the supply curve, the greater the supply schedule.
What method does OPEC used to increase its profits?
Limiting the supply of oil
What gived producers the incentive to produce more?
Supply & demand. Supply=how much of something is available. Demand=how much of something people want. More demand = more supply.
What happens to the aggregate supply curve as the price level increases?
Firms have more of an incentive to increase output
What happens when demand is greater than demand?
When demand is greater than supply a supply shortage or scarcity arises and prices increase.
What happens when supply is greater than demand?
The price declines until demand increases.
How does productivity affect supply?
no
How does subsidy affect supply?
It decreases cost of production and increases supply.
How do falling prices affect supply?
The quantity demanded rises.Explanation: The lower a prize becomes the more people will want to buy that certain good no matter what the good may be.Falling prices discourage suppliers because of dwindling profits and when suppliers shy away, shortage arises as well.
