D | Question 4 1.32 pts Which of the following is the reason supply curves norma
ID: 1161921 • Letter: D
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D | Question 4 1.32 pts Which of the following is the reason supply curves normally slope upward? O Price increases as supply decreases Supply increases as opportunity cost decreases. Higher prices make producers both more willing and more able to bear higher costs. Higher prices enable producers to produce less and still make the same amount of profit. Demand increases as price decreases DI Question 1.32 pts A major technological advance favorably affecting productivity in all industries would be represented on a production possibilities curve as: a movement off the production possibility frontier toward a point outside the frontier O an outward shift of the entire frontier. a movement toward the frontier from a point inside the frontier 0 a movement up and to the left along the frontier to a higher point. D Question 6 1.32 pts Which of the following answers the economic question: who gets to consume goods? Computer producers decide among copper, aluminum or gold as inputs into making computers O Consumers can purchase trips into outer space, if they can afford it Land developers in SoCal decide whether to build housing or an amusement park.Explanation / Answer
4. Option 3: Higher prices make producers both more willing and more able to bear higher costs
The supply curve slope upwards because to produce an additional unit of output the firms must bear an additional per unit cost. Hence, the supply curve slopes upwards.
5. Option 2: An outward shift of the entire frontier
A technological advance will shift the production possibility frontier as all industries potential output will increase.
6. Option 2
The decision of who gets to consume goods is taken by consumers and not by producers as mentioned in option 1 and 3
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