If Canada experiences increasing opportunity costs,its supply schedule of steel will be:
A) Downward-sloping
B) Upward-sloping
C) Horizontal
D) Vertical

Question

Quizplus · Accepted Answer

An upward-sloping supply schedule would best reflect increasing opportunity costs as the cost of producing additional units of steel would increase over time due to the need to allocate more resources away from alternative uses.

If Canada Experiences Increasing Opportunity Costs,its Supply Schedule of Steel