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Masteriza [31]
3 years ago
8

Suppose the market price increase. Which statement is correct?

Business
1 answer:
vladimir2022 [97]3 years ago
3 0

Answer:

C

Explanation:

If the market price of a good increases, quantity demanded decreases and quantity supplied increases. This is in line with the law of demand and supply respectively.

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

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