As the ________ increases, ________
A) quantity demanded of a good; its price increases
B) quantity demanded of a good; its price decreases
C) price of a good; its quantity demanded increases
D) price of a good; its quantity demanded decreases
D
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Suppose the production function for T-shirts can be represented as q = L0.25 K0.75. Show that the marginal productivity of labor diminishes in the short run
What will be an ideal response?
Which of the following is true? a. Sellers are willing to supply more of a good or service at every price after costs have increased. b. A fall in the price of a product leads to an increase in the profits earned by sellers
c. A fall in the cost of production leads to a downward movement along the supply curve of a product. d. Sellers are willing to supply more of a good or service at every price after costs have decreased. e. An increase in the price of a product leads to a fall in the profits earned by sellers.