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Your manager requests your help on a marketing research project they are conducting on the relationship between the price of beer and the quantity of
Your manager requests your help on a marketing research project they are conducting on the relationship between the price of beer and the quantity of beer supplied. They hand you the following document:
Price of Beer | Quantity of Beer Supplied |
---|---|
(Dollars per can) | (Billions of cans) |
0.50 | 750 |
0.75 | 1,000 |
1.00 | 1,500 |
1.25 | 2,000 |
our task is to take this (law of supply/supply curve/ supply schedule/ quantity of beer supplied) and construct a graphical representation of the data. In doing so, you determine that as the price of beer rises, the quantity of beer supplied increases. This confirms the (law of supply/supply curve/ supply schedule/ quantity of beer supplied).
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