Law of supply indicates that a rise in the price of a good will cause a decrease in the supply of the good and vice versa, other things remaining equal.
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- According to the supply law, a fall in the price of a good will cause _____ in the supply of the good and vice versa, other things remaining equal. Price and quantity supplied have a ____ relationship. A: a decrease; negative B: a decrease; positive C: an increase; negative D: aan increase; positive
- The law of supply states that, other things equal, when the price of a good A: A、 falls, the supply of the good rises. B: B、 rises, the quantity supplied of the good rises. C: C、 rises, the supply of the good falls. D: D、 falls, the quantity supplied of the good rises.
- Which of the following would cause price to decrease? A: a decrease in supply B: an increase in demand C: a surplus of the good D: a shortage of the good
- Which of the following would cause price to decrease? A: A、a decrease in supply B: B、an increase in demand C: C、a surplus of the good D: D、a shortage of the good
- Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good