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A vertical supply curve represents:
a. an inverse relationship between price and quantity supplied.
b. an independent relationship between price and quantity supplied.
c. an independent relationship between price and supply.
d. a direct relationship between price and quantity supplied.
e. a direct relationship between price and supply.
The relationship between quantity demanded and price is _____ and the relationship between quantity supplied and price is _____.
A) negative, positive
B) negative, negative
C) positive, positive
According to the law of supply, there is a
a) negative relationship between price and the quantity of a good supplied.
b) positive relationship between price and the quantity of a good supplied.
c) negative relationship between price and the change in supply.
d) positive relationship between price and the change in supply.