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"Price" in the Statement of the Law of Supply Refers

Question 58

Multiple Choice

"Price" in the statement of the Law of Supply refers to:


A) The amount that buyers are willing and able to pay for each unit of the product
B) The cost of producing each unit of the product
C) The total revenues that sellers receives for selling a given quantity of the product
D) The total amount that buyers pay in order to acquire a given quantity of the product

Correct Answer:

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