Question
Which of the following statements is NOT consistent with the shape or direction of the supply curve? Group of answer choices a,As the productivity of
Which of the following statements is NOT consistent with the shape or direction of the supply curve?
Group of answer choices
a,As the productivity of inputs declines suppliers must use more of them in production and will only do so if they receive a higher price
b.Producers must often pay higher wages for overtime or additional shifts in order to produce more products and services
c.Producers must often hire more resources to produce more product and their resource markets also follow supply and demand principles.
d.Because governments set maximum prices for most products this affects the slope of the supply curve where higher prices flatten the curve and lower prices make the curve more cheap
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