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16) According to the law of demand, there is a(n) a. Inverse relationship between price & quantity of a good supplied b. Direct relationship between
16) According to the "law of demand," there is a(n) a. Inverse relationship between price & quantity of a good supplied b. Direct relationship between price & quantity of a good supplied. Inverse relationship between price & the quantity of a good demanded. d. Direct relationship between price & the quantity of a good demanded. 17) If the price of pizza dough flour increases this can been shown as a. A shift out of the supply curve for pizza b. A shift in of the supply curve for pizza c. A movement along the supply curve of pizza d. A movement along the demand curve for pizza 18) Consumer surplus is the difference between the equilibrium price and a Willingness to Pay b. Willingness to Accept c. Market Price d. Supply
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