The Law of Supply Exists Because

question 52

Multiple Choice

The law of supply exists because:

• A) as additional units of a good are produced, opportunity cost increases.
• B) as additional units of a good are produced, opportunity cost decreases.
• C) the value consumers place on additional units decreases as more is consumed.
• D) the value consumers place on additional units increases as more is consumed.

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Definitions:

Intellectual Property

Legal rights that protect creations of the mind, such as inventions, literary and artistic works, designs, and symbols.

Miracle Drug

A term often used to describe a medicine that has unexpectedly effective results in curing or significantly treating a disease.

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A type of cancer that develops from breast cells and is one of the most common cancers affecting women worldwide.

International Business

Commercial transactions, including sales, investments, and logistics, that occur across international borders.