Which of These Statements Best Represents the Law of Supply

question 84

Multiple Choice

Which of these statements best represents the law of supply?

• A)When input prices increase,sellers produce less of the good.
• B)When production technology improves,sellers produce less of the good.
• C)When the price of a good decreases,sellers produce less of the good.
• D)When sellers' supplies of a good increase,the price of the good increases.

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Definitions:

CNS

Central Nervous System, which comprises the brain and spinal cord, responsible for processing information and controlling the majority of functions of the body and mind.

Myelin Sheath

The myelin sheath is a protective covering made of fatty substances that surrounds nerve fibers, enhancing the speed and efficiency of electrical signal transmission along the nerve cells.

Action Potential

A rapid rise and subsequent fall in voltage or electrical charge across a cellular membrane, the basis for neural communication and muscle contraction.

Afterpotential

Afterpotential is the transient electrical polarization that follows the action potential in nerve cells or muscle fibers, impacting the cell's excitability.