Answer to Question #91712 in Microeconomics for Ida

Question

A supply curve for hospital beds is upward sloping because

a. mass production is associated with larger levels of output

b.consumers want to see a positive relationship between price and quantity

c.beyond some point the cost of producing additional hospital beds will rise

d.expanding output requires using qualitatively inferior inputs

Answer 1

A supply curve for hospital beds is upward sloping because beyond some point the cost of producing additional hospital beds will rise

Answer: c