According to the law of supply, producers will
A) change their consumption plans when the price of a good changes.
B) change their supply when the price of a good changes.
C) change their production plans when the price of a good changes.
D) increase their quantity supplied when the price of a good decreases.
E) decrease their quantity supplied when the price of a good increases.
C
You might also like to view...
What are the two most common reasons for a sovereign debt crisis?
What will be an ideal response?
Refer to Scenario 5.10. Hillary's indifference curves showing her preferences toward risk and return can be shown in a diagram. Expected return is plotted on the vertical axis and standard deviation of return on the horizontal axis
Although her indifference curves are upward sloping and bowed downward, their slope is very gradual (they are almost horizontal). These indifference curves reveal that Hillary is: A) risk neutral. B) risk averse. C) risk loving. D) irrational.