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    Macroeconomics Study Set 41
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    Exam 3: Demand and Supply
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    The ʺLaw of Supplyʺ States That, Other Things Remaining the Same
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The ʺLaw of Supplyʺ States That, Other Things Remaining the Same

Question 1

Question 1

Multiple Choice

The ʺlaw of supplyʺ states that, other things remaining the same, firms produce


A) less of a good as the required resources become scarcer.
B) more of a good the less it costs to produce it.
C) less of a good the more it costs to produce it.
D) more of a good the higher its price.

Correct Answer:

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