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Economics A Level (DONEEEEEEE)
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Pregunta:
Why do Supply Curves slope Upwards?
Autor: eric_galvaoRespuesta:
-Ceteris Paribus, Producers and Sellers want to Maximise their Profits, and so, the Higher the Price, the Higher the Profit -So Therefore Higher Profit gives an Incentive to expand Production and Increase Supply. That's why Quantity Supplied Increases as Price Increases [More than the Cost of Supplying More]
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