An increase in the price of a good would a. Increase the amount purchased by buyers. b. Decrease the supply of the good.. c. Give producers an incentive to produce more. d. Decrease both the quantity demanded of the good and the quantity supplied of the good.

An increase in the price of a good would a. Increase the amount purchased by buyers. b. Decrease the supply of the good.. c. Give producers an incentive to produce more. d. Decrease both the quantity demanded of the good and the quantity supplied of the good.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 7P

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