The Law of Supply says that by Dr. Robert Murphy @Mises Institute

Question 57 / 100: The Law of Supply says that

A a lower price will tend to lead a consumer to buy either the same or a greater amount of the
good or service.

B consumers want to buy more units of something than producers want to sell at a particular price.

C as the market price of a good or service rises, producers tend to offer the same or a greater
number of units.

D producers are trying to sell more units of a good or a service than consumers want to purchase
at a particular price.

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Lessons for the Young Economist MCQ

Access: Public Instant Grading

Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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