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Homework answers / question archive / When the price of armchairs increases, the: a) quantity supplied increases, b) supply increases, c) quantity supplied decreases, or d) supply decreases
When the price of armchairs increases, the: a) quantity supplied increases, b) supply increases, c) quantity supplied decreases, or d) supply decreases.
The answer to this question is:
a) quantity supplied increases
When the price of armchairs is high, selling armchairs becomes profitable, and thus quantity supplied of armchairs increases.
