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Author Question: Which of the following examples best describes the Law of Supply? A) When the cost of production ... (Read 51 times)

tth

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Which of the following examples best describes the Law of Supply?
 
  A) When the cost of production of cotton increased, all suppliers' willingness to accept decreased.
  B) When the market price of pens increased, sellers started supplying more pens.
  C) When the cost of production of cotton fell, the market price of cotton also fell.
  D) When the market price of pens increased, sellers started supplying fewer pens.

Question 2

Which of the following is NOT one of the functions of money?
 
  A) protection from increases in prices of goods and services
  B) store of value
  C) medium of exchange
  D) unit of accounting


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jennafosdick

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tth

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Reply 2 on: Jun 30, 2018
Excellent


lcapri7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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