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The Law of Supply States That, Other Things Remaining the Same

Question 60

Multiple Choice

The law of supply states that, other things remaining the same,


A) if the price of a good increases, firms buy less of it.
B) demand increases when supply increases.
C) if the price of a good increases, the supply increases.
D) as people's income increases, the supply of goods increases.
E) if the price of a good increases, the quantity supplied increases.

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