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If the price of chili increases, there will be, of chili cheese fries. an increase in the quantity supplied O a decrease in the quantity supplied a decrease in the supply an increase in the supply

If the price of chili increases, there will be, of chili cheese fries. an increase in the quantity supplied O a decrease in the quantity supplied a decrease in the supply an increase in the supply

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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**Question:** If the price of chili increases, there will be _______ of chili cheese fries. **Multiple Choice Options:** - ○ an increase in the quantity supplied - ○ a decrease in the quantity supplied - ○ a decrease in the supply - ○ an increase in the supply **Instructions:** Choose the correct option to complete the statement based on the principles of supply and demand.
Transcribed Image Text:**Question:** If the price of chili increases, there will be _______ of chili cheese fries. **Multiple Choice Options:** - ○ an increase in the quantity supplied - ○ a decrease in the quantity supplied - ○ a decrease in the supply - ○ an increase in the supply **Instructions:** Choose the correct option to complete the statement based on the principles of supply and demand.
**Question:** Which of the following is NOT true of a market economy? **Options:** - ○ Decisions are regulated by a central agency. - ○ In its pure form, it is also known as a laissez-faire economy. - ○ The interaction between buyers and sellers answers the basic economic questions of what gets produced, how it gets produced, and who gets it. - ○ It relies on millions of individual economic decisions to determine economic outcomes.
Transcribed Image Text:**Question:** Which of the following is NOT true of a market economy? **Options:** - ○ Decisions are regulated by a central agency. - ○ In its pure form, it is also known as a laissez-faire economy. - ○ The interaction between buyers and sellers answers the basic economic questions of what gets produced, how it gets produced, and who gets it. - ○ It relies on millions of individual economic decisions to determine economic outcomes.
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