The relationship between quantity supplied and the price of output is such that O an increase in quantity will automatically lead to a reduction in price. O quantity will decrease as the number of firms increases. O an increase in price will produce an inward shift in the supply curve. O an increase in price will lead to an increase in quantity supplied.
The relationship between quantity supplied and the price of output is such that O an increase in quantity will automatically lead to a reduction in price. O quantity will decrease as the number of firms increases. O an increase in price will produce an inward shift in the supply curve. O an increase in price will lead to an increase in quantity supplied.
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
Problem 3ST
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