Which of the following statements best represents the law of supply?
A) Price and quantity supplied are inversely related.
B) Price and quantity supplied are directly related.
C) Price and quantity supplied are inversely related,ceteris paribus.
D) Price and quantity supplied are directly related,ceteris paribus.
E) Price and supply are directly related,ceteris paribus.
Correct Answer:
Verified
Q154: If the demand for a good increases
Q155: One reads in the newspaper: "Today the
Q156: In year 1 the average price of
Q157: If the demand for a good falls
Q158: The price of X was $10 in
Q160: Which of the following statements represents a
Q161: Which of the following statements is false?
A)
Q162: If the producers' surplus is $50,and the
Q163: One reason that helps to explain the
Q164: Assume that computers and software are complements.If
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents