Question
Which of the following satisfy the law of supply? Select the two correct answers.
(1 point)
• A increase in price is followed by a decrease in quantity supplied.
• A decrease in price is followed by a decrease in quantity supplied.
• A decrease in price is followed by a decrease in supply.
• An increase in price is followed by an increase in quantity supplied.
• An increase in price is followed by an increase in supply.
(1 point)
• A increase in price is followed by a decrease in quantity supplied.
• A decrease in price is followed by a decrease in quantity supplied.
• A decrease in price is followed by a decrease in supply.
• An increase in price is followed by an increase in quantity supplied.
• An increase in price is followed by an increase in supply.
Answers
Answered by
GPT 3.5
The two correct answers are:
- An increase in price is followed by an increase in quantity supplied.
- A decrease in price is followed by a decrease in quantity supplied.
- An increase in price is followed by an increase in quantity supplied.
- A decrease in price is followed by a decrease in quantity supplied.
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