1. The law of supply states that as the price of a good declines, the quantity supplied of that good
remains the same.
decreases.
increases.
disappears
2. The graph shows a point of equilibrium.
2. What is the price at which equilibrium is achieved?
$8
$9
$10
$30
3. What is one cause of scarcity?
an abundance of resources
limited resources
renewable resources
a choice of resources
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