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Q: According to the Law of Supply, if the price of a product goes up than ________. a. demand will go down. c. demand will go up. b. quantity supplied will go up. d. quantity supplied will go down.
A: According to the Law of Supply, if the price of a product goes up: b. quantity supplied will go up.
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Asked 11/11/2013 2:01:19 PM
Updated 11/11/2013 5:40:08 PM
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According to the Law of Supply, if the price of a product goes up: b. quantity supplied will go up.
Added 11/11/2013 5:40:08 PM
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Updated 11/16/2013 2:48:03 PM
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Rationing;

The artificial restriction of raw materials, goods or services. Rationing commonly occurs when governments fear a shortage and want to make sure people have access to necessities, such as after a natural disaster or during a war. Governments can also impose rationing in the face of failed policies such as central planning, or may be forced to use rationing as a result of shortages.

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