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Author Question: Which of the following is an example of the law of supply? A) The price of gum has increased so ... (Read 30 times)

penguins

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on: Jun 29, 2018
Which of the following is an example of the law of supply?
 
  A) The price of gum has increased so producers are making more gum.
  B) The price of labor has increased and producers decrease supply.
  C) The amount of a good purchased increases when the price decreases.
  D) Producers provide less of a good when the price increases.

Question 2

In the above figure, the opportunity cost of moving from point A to point C is
 
  A) 50 guitars.
  B) 0 guitars.
  C) 25 guitars.
  D) 50 ukuleles.


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Jevvish

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


penguins

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Reply #2 on: Jun 29, 2018
Correct answers!


Jevvish

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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