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An Increase in Demand Causes an Increase in Quantity Supplied

question 103

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An increase in demand causes an increase in quantity supplied, which causes a decrease in price.


Definitions:

Work Responsibilities

The specific tasks, duties, and functions assigned to an employee or a team within the workplace, expected to be fulfilled to achieve organizational goals.

Business Strategy

A plan of action designed to achieve a long-term or overall aim in the competitive marketplace.

Business Fail

A situation where a business is unable to continue its operations or achieve its financial goals, leading to its closure or bankruptcy.

New Businesses

Refers to startups or entrepreneurial ventures that are newly established within the market.

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