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When the quantity demanded for a good is elastic, it means the demand for the product is influenced by price changes. Answer True False
Weegy: FALSE User: Demand for pizza is usually considered to be elastic. Answer True False (More)
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Expert Answered
Updated 7/13/2012 12:33:30 PM
1 Answer/Comment
When the quantity demanded for a good is elastic, it means the demand for the product is influenced by price changes. True.
Added 7/13/2012 12:33:32 PM
The law of supply is defined as the willingness of producers to supply more of a good as the price of the good decreases.Answer True False
Weegy: True User: The quantity supplied is the amount of a good that consumers are willing to supply at each price. Answer True False Weegy: false (More)
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Expert Answered
Updated 7/13/2012 12:31:47 PM
1 Answer/Comment
The law of supply is defined as the willingness of producers to supply more of a good as the price of the good decreases. False. Supply increases as price increases.

Added 7/13/2012 12:32:08 PM
The location where the quantity supplied and the quantity demanded meet on a graph is called shortage point. Answer True False
Weegy: true (More)
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Expert Answered
Updated 11/6/2013 3:59:31 PM
2 Answers/Comments
False. The location where the quantity supplied and the quantity demanded meet on a graph is called market equilibrium.
Added 7/13/2012 12:28:16 PM
This answer has been added to the Weegy Knowledgebase
False, it is the equilibrium.
Added 11/6/2013 3:59:31 PM
This answer has been flagged as incorrect.
Flagged by andrewpallarca
A price floor is a minimum price that the government established by law. Answer True False
Weegy: A price floor is a minimum price that the government established by law. True. (More)
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Updated 8/22/2015 7:31:43 PM
0 Answers/Comments
Supply curves are created when the data from a A)demand curve is graphed. B) supply schedule is graphed. C)demand schedule is graphed. D)store's daily receipts is collected
Weegy: D)store's daily receipts is collected (More)
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Expert Answered
Updated 7/17/2012 11:15:28 PM
1 Answer/Comment
Supply curves are created when the data from a Supply Schedule is graphed.
Added 7/17/2012 11:15:29 PM
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