If the input costs associated with supplying gasoline increase in Prince Edward Island,the supply of gasoline in Prince Edward Island will decrease.

Question

Quizplus · Accepted Answer

The statement follows the law of supply, which states that an increase in input costs typically leads to a decrease in supply. As such, if input costs associated with supplying gasoline in Prince Edward Island increase, the supply of gasoline in that jurisdiction would decrease.

If the Input Costs Associated with Supplying Gasoline Increase in Prince