when supply curve is upward sloping its slope is

questioned by administrator @ 13/08/2021 in Environmental Sciences viewed by 328 People

When supply curve is upward sloping its slope is

Answered by administrator @ 13/08/2021

Answer:

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Explanation:

The supply curve slopes upward, reflecting the higher price needed to cover the higher marginal cost of production. The higher marginal cost arises because of diminishing marginal returns to the variable factors.

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