According to the law of supply: O A) there is a direct relationship between price and the quantity supplied. B) there is an inverse relationship between price and the quantity supplied. C) there is a direct relationship between price and quantity demanded. D) there is an inverse relationship between price and quantity demanded.

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 1WNG
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According to the law of supply:
A) there is a direct relationship between price and the quantity supplied.
B) there is an inverse relationship between price and the quantity supplied.
C) there is a direct relationship between price and quantity demanded.
D) there is an inverse relationship between price and quantity demanded.
Transcribed Image Text:According to the law of supply: A) there is a direct relationship between price and the quantity supplied. B) there is an inverse relationship between price and the quantity supplied. C) there is a direct relationship between price and quantity demanded. D) there is an inverse relationship between price and quantity demanded.
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