The resource prices faced by a firm rise

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Reference no: EM13732592

1. The law of supply says that

a. supply and income are inversely related

b. supply follows demand

c. quantity supplied equals quantity demanded

d. price and quantity supplied are inversely related

e. price and quantity supplied are directly related

2. If the resource prices faced by a firm rise, the result is a(n)

a. decrease in supply

b. increase in supply

c. decrease in demand

d. increase in quantity demanded

e. decrease in quantity supplied

Reference no: EM13732592

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