"Other Things Equal,when the Price of a Good Rises,the Quantity

question 24

Multiple Choice

"Other things equal,when the price of a good rises,the quantity supplied of the good also rises,and when the price falls,the quantity supplied falls as well." This relationship between price and quantity supplied

• A)is referred to as the law of supply.
• B)applies only to a few goods in the economy.
• C)is represented by a downward-sloping supply curve.
• D)All of the above are correct.