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. When price increases __________________ increases. 2.When price increases __________________decreases. 3. The height of the supply curve represents the ____________________ for each quantity. 4. The height of the demand curve represents the __________________ for each quantity. 5. What must be given up to produce one additional unit is called the..... Options:  supply marginal value total cost quantity supplied quantity demanded marginal cost demand total value

. When price increases __________________ increases. 2.When price increases __________________decreases. 3. The height of the supply curve represents the ____________________ for each quantity. 4. The height of the demand curve represents the __________________ for each quantity. 5. What must be given up to produce one additional unit is called the..... Options:  supply marginal value total cost quantity supplied quantity demanded marginal cost demand total value

Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 2CQQ
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1. When price increases __________________ increases.

2.When price increases __________________decreases.

3. The height of the supply curve represents the ____________________ for each quantity.

4. The height of the demand curve represents the __________________ for each quantity.

5. What must be given up to produce one additional unit is called the.....

Options: 

  • supply
  • marginal value
  • total cost
  • quantity supplied
  • quantity demanded
  • marginal cost
  • demand
  • total value

 

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