which of the following reasons explains the upw... - WAEC Economics 1989 Question
which of the following reasons explains the upward sloping of supply curve in a competitive market?
A
Ceteris paribus, marginal cost increase as output increases
B
As new firms enter the market, factor price moves up
C
Firms are in business to satisfy consumers
D
Marginal cost often increases in a competitive market
correct option: a
Please share this, thanks:
Add your answer
No responses