If the price of a good is low --- O firms should raise the price of the product O the supply curve for the good will shift to the left O quantity supplied could be zero O firms would increase profit by increasing output

If the price of a good is low --- O firms should raise the price of the product O the supply curve for the good will shift to the left O quantity supplied could be zero O firms would increase profit by increasing output

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 20P

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If the price of a good is low
O firms should raise the price of the product
O the supply curve for the good will shift to the left
O quantity supplied could be zero
O firms would increase profit by increasing output

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