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CHS Economics
Profit — Unit test
Question 17
17
Quiz
Multiple Choice
Profit — Unit test
Question 17 • CHS Economics
Which statement best explains the law of supply?
Answer
A
The quantity supplied by producers increases as prices rise and decreases as prices fall.
B
The quantity supplied by producers decreases as prices rise and increases as prices fall.
C
The quantity supplied by consumers increases as prices rise and decreases as prices fall.
D
The quantity supplied by consumers decreases as prices rise and increases as prices fall.
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