nguyentramanh10399 nguyentramanh10399
  • 15-06-2021
  • Social Studies
contestada

When price increases by 1%, quantity supplied increases by 2%. What does this mean?

Respuesta :

ashish4112119
ashish4112119 ashish4112119
  • 15-06-2021

Answer:

this is law of supply

more money then more of a supply attempt

Explanation:

when dealing with percents its great to use the number 100 to get a better understanding

word percent means per 100

so a price is $100 and it increases 1% then its $101

if a supply is 100 and it increases 2% then it's 102

so with an increase in price there is an increase in supply

this is the law of supply

sellers want mpre profit

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