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What is the reason for upward sloping supply curve? - Economics

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Question

What is the reason for upward sloping supply curve?

Options

  • Direct relation between price and quantity

  • Change in the number of producers

  • Profit maximisation

  • All the above

MCQ
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Solution

All the above

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Chapter 5: Supply - Law of Supply and Price Elasticity of Supply - TEST YOURSELF QUESTIONS [Page 95]

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Frank Economics [English] Class 12 ISC
Chapter 5 Supply - Law of Supply and Price Elasticity of Supply
TEST YOURSELF QUESTIONS | Q 4. | Page 95
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