Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be you know that at a price of $10 per CD, the is five million CDs. Moreover,

Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be you know that at a price of $10 per CD, the is five million CDs. Moreover,

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Stuck on this question for hours. Question in image. Thanks :)
The law of supply states that there is a positive relationship between the price of a good and the quantity supplied (supply curves representing the price and quantity demanded). From a business owners standpoint, if I was wanting to sell more of a good, I would want to lower the price. This doesnt make sense to me. In my head more quantity should mean lower price.
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