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5. Suppose there is a 10% rise in the price of gasoline. Then, according to the law of supply, we expect the quantity of gasoline
5. Suppose there is a 10% rise in the price of gasoline. Then, according to the law of supply, we expect the quantity of gasoline supplied to increase . Conversely, if the price goes down, quantity supplied will drop, as well. Drop Supply production cost increase demand down
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