Supply Quiz 1

What influences the decisions of sellers?

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Differentiate between a change in quantity supplied and a change in supply

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Explain how producers respond to changes in the price of resources

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What do you think are the five shifters (determinants) of supply

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What is supply?

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What is the Law of Supply?

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What if there are new and more productive milking machines? How would the supply of milk be affected?

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What if the price for dairy cows increases drastically? How would the supply of milk be affected?

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