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The law of supply implies that the supply curve is?
Upward-sloping
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
What characteristics lead to an upward-sloping supply curve?
Increasing opportunity costs.Increasing marginal costs.
Why does the short run aggregate supply curve slope upward?
there are three reasons why the SRAS curve is upward sloping Sticky wages theory Sticky Price Theory misperception theory
Why is the supply curve horizontal for a factor price taker yet the industry supply curve is upward sloping?
A factor price taker faces a horizontal supply curve because it can hire as many units of the factor as needed at the market-determined wage rate, without affecting that rate. In contrast, the industry supply curve is upward sloping because as the quantity of a factor demanded increases, the price of that factor tends to rise due to increased competition for limited resources, leading to higher marginal costs for producers. Thus, while individual firms can take factor prices as given, the overall industry responds to changes in supply and demand, resulting in an upward-sloping curve.
The law of supply implies that the supply curve is?
Upward-sloping
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
What characteristics lead to an upward-sloping supply curve?
Increasing opportunity costs.Increasing marginal costs.
Why does the short run aggregate supply curve slope upward?
there are three reasons why the SRAS curve is upward sloping Sticky wages theory Sticky Price Theory misperception theory
Why is the supply curve horizontal for a factor price taker yet the industry supply curve is upward sloping?
A factor price taker faces a horizontal supply curve because it can hire as many units of the factor as needed at the market-determined wage rate, without affecting that rate. In contrast, the industry supply curve is upward sloping because as the quantity of a factor demanded increases, the price of that factor tends to rise due to increased competition for limited resources, leading to higher marginal costs for producers. Thus, while individual firms can take factor prices as given, the overall industry responds to changes in supply and demand, resulting in an upward-sloping curve.
Is The aggregate demand curve downward sloping for the same reason that the demand curve for a single good is downward sloping?
true because it is still supply and demand downward sloping
How does a supply curve reflect the law of supply?
Companies will want to supply more goods/services at a higher price because they can make more profit this way. Therefore, the supply curve is upward sloping since at each increase in price, there will be a corresponding increase in quantity supplied. This exactly is the law of supply: businesses will supply more at higher prices.
What does the supply curve of a pure monopolist form look like?
The supply curve of a pure monopolist is not well-defined like that of a competitive firm because a monopolist sets prices based on demand rather than producing a specific quantity at a given price. Instead of a typical upward-sloping supply curve, a monopolist determines the quantity to produce by equating marginal cost with marginal revenue, and then uses the demand curve to set the price. Consequently, the monopolist's pricing and output decisions are influenced by the market demand, leading to a downward-sloping demand curve rather than a distinct supply curve.
What are typical shapes of marginal-benefit curves?
Marginal Benefit curve is usually downward sloping, while Marginal Cost is usually upward sloping.
What happen to price when supply is constant and demand increaes?
prices will fall if demand decreases and the supply is constant. the supply curve will be vertical and demand curve will be downward sloping.
Why does the LM curve slope upwards?
In equilibrium: Money supply = Money demand.Summarizing it, we can explain the upward sloping LM curve as following:If income is high then thedemand for money will be high relative to the fixed supply. In order to equilibrate money demand and money supply, interest rates have to also be high to reduce money demand
In which direction does the supply curve slope from the left to the right?
upward
