Assume that the supply curve for tomatoes is upward sloping. If the price per pound increases from $0.99 to $1.89, a greater quantity of tomatoes will be supplied to the market
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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What will be an ideal response?
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An economic model is a(n)
a. philosophical inquiry b. set of numbers that describe a firm (e.g., profits and assets) c. abstract representation of reality d. concrete representation of reality e. ideal to which economic entities are compared
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