As the Price of Milk Increases, Producers Are Normally Willing

question 234

Multiple Choice

As the price of milk increases, producers are normally willing to supply greater quantities.This response is known as the law of

• A)supply
• B)demand
• C)averages
• D)variable proportions
• E)increasing costs

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Definitions:

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The total value of all goods and services produced within a country's borders over a given time period.

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