Chapter 4 - Supply and Demand Flashcards | Quizlet
when the price of a bottle of water rises from $1.50 to $2.00, the quantity supplied increases from 2,000 bottles a day to 3,000 bottles a day. And when the price falls, the quantity supplied decreases. For example, when the price falls from $1.50 to $1.00 a bottle, the quantity supplied decreases from 2,000 bottles a day to 1,000 bottles a day.
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