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Jim owns several local gas stations. The long weekend is coming and he would like to raise the price of gasoline. The law of supply
Jim owns several local gas stations. The long weekend is coming and he would like to raise the price of gasoline. The law of supply implies all of the following, EXCEPT: a) as the price of gasoline decreases, the quantity of gasoline supplied increases. b) as the price of gasoline increases, the quantity of gasoline supplied increases. c) the quantity supplied of gasoline increases as its price increases. d) the quantity supplied of gasoline decreases as its price decreases
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