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Think about a popular product with which you are familiar. Reflect on the following: What would happen to the supply of that product if its
Think about a popular product with which you are familiar. Reflect on the following: What would happen to the supply of that product if its price fell and the price rose on other products suppliers could make? For example, if the price of beef rises and the price of pork falls, what would happen to the opportunity cost of producing pork? What happens to the quantity of pork that a farmer is likely to supply
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