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Which is False regards Supply and Demand: 1.) The Law of Demand states that as quantity increase the price will decrease and as the price

Which is False regards Supply and Demand: 1.) The Law of Demand states that as quantity increase the price will decrease and as the price decrease the demand will increase. 2.) The Substitution Effect indicates that at a lower price buyers have the incentive to substitute what is now a less expensive product for more expensive product. 3.) The Demand curve is the price-quantity data points which create a curve to measure demand. 4.) All things remaining equal firms will produce supply at a lower price

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