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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What is wrong with this statement: As the price of a good falls, the supply of that good falls, ceteris paribus.

To determine

Explain what is wrong in the given statement.

Explanation

The change in quantity supply occurs due to a change in price factor. Change in supply occurs due to the changes in non-price factors. The statement should be “As the price of good...

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