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Which of the following statements about supply is TRUE? Question 1 options: The law of supply states that as price rises, supply increases. If the

Which of the following statements about supply is TRUE?

Question 1 options:

The "law of supply" states that as price rises, supply increases.

If the marginal cost of production is always equal to $5 per unit, then the supply curve is horizontal.

Both the first and second answers are true.

Neither the first or second answers is true.

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