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Discuss, thank you 1. What does the Law of Supply state? 2. Why do supply and demand curves slope in opposite directions? 3. How is

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Discuss, thank you

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1. What does the Law of Supply state? 2. Why do supply and demand curves slope in opposite directions? 3. How is the elasticity of supply affected by the way a product is produced? 4. Explain the difference between a total product and a marginal product. 5. What is the difference between a fixed cost and a variable cost

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