ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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According to the Law of Supply, as prices fall ____
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Quantity supplied rises
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Quantity supplied falls
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Quantity supplied remains unchanged
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None of these
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Explanation:
Detailed explanation-1: -The law of supply and demand outlines the interaction between a buyer and a seller of a resource. Supply and demand says that sellers will supply less of a product or resource as price decreases, while buyers will buy more, and vice versa, until an equilibrium price and quantity is reached.
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