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Question

18. According to the law of supply, if the price of a good or service increases:

O A. Supply will decrease.

C

B. Supply will increase.

0

c. Quantity supplied will decrease.

© D. Quantity supplied will increase.

Answer

D. Quantity supplied will increase.

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The law of supply states that there is a direct relationship between the price of a good or service and the quantity supplied, all other factors being constant...