Business, 14.02.2020 06:17 robert7248

The law of supply relates to opportunity cost because:
A) The opportunity cost to suppliers is the value of the next-best alternative they had when they supplied that good.
B) The opportunity cost of that forgone opportunity tends to increase as you supply more.
C) When a consumer chooses to purchase a product, then the consumer gives up opportunity cost.
D) That opportunity cost leads to higher prices when supply increases.
E) The income and substitution effects represent the opportunity cost of supplying a certain good.
F) If prices increase, the income and substitution effects increase, leading to an increase in quantity supplied.
G) The opportunity cost to suppliers is the value of the next-best alternative they had when they supplied that good.
H) The opportunity cost of that forgone opportunity tends to decrease as you supply more.

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The law of supply relates to opportunity cost because:
A) The opportunity cost to suppliers i...

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