Which statement is consistent with the law of supply? An increase in market price will lead to a decrease in quantity supplied. At a zero price, quantity supplied will be infinite. A reduction in market price will lead to an increase in quantity supplied. An increase in market price will lead to an increase in quantity supplied. b. Which of the following characteristics leads to an upward-sloping supply curve? Instructions: Click the box with a check mark for correct or click a second time to clear the box for incorrect. Increasing opportunity costs unanswered Increasing marginal costs unanswered Diminishing marginal utility unanswered A decrease in resource prices unanswered An increase in resource prices unanswered Increasing labor productivity unanswered c. How do you derive a market supply curve from individual supply curves? Add up prices paid for each unit supplied by producers Use the largest quantity supplied among all producers for each price Calculate the average quantity supplied among all producers Add up quantities supplied by all individual producers for each price
