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26 Aug 2018
1. The law of supply indicates that an increase in price will cause an increase in supply which is reflected graphically as a rightward shift of the supply curve. True or False?
2. An increase in demand is reflected as a rightward (outward) shift of the demand curve and is caused by an increase in price. True or False?
3. Higher milk prices reduce the demand for milk. True of False?
1. The law of supply indicates that an increase in price will cause an increase in supply which is reflected graphically as a rightward shift of the supply curve. True or False?
2. An increase in demand is reflected as a rightward (outward) shift of the demand curve and is caused by an increase in price. True or False?
3. Higher milk prices reduce the demand for milk. True of False?
Beverley SmithLv2
28 Aug 2018
