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The supply curve slopes upward because at a higher price, producers have to produce more. The price of shirts declines dramatically. Javier now feels richer and buys more shirts than he normally would.
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The supply curve slopes upward because at a higher price, producers have

to produce more.
The price of shirts declines dramatically. Javier now feels richer and buys more shirts than he normally would. This
situation is an example of the

User OutOfBound
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7.5k points

1 Answer

4 votes

Answer:

Income effect!

Step-by-step explanation:

I hope this helps!

User Rutger Kassies
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