The law of supply states that the quantity supplied of a good and

a. the price of a key input are inversely related
b. its price are inversely related
c. the price of a key input are positively related
d. its price are positively related
e. the price of an alternate good are positively related

D

Economics

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Indicate whether the statement is true or false

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Tacit collusion occurs when price- and quantity-fixing agreements among producers

A. are legal. B. are explicit. C. are implicit. D. are nonexistent.

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