Please help with these questions The positive slope of the supply curve tells us
ID: 1173380 • Letter: P
Question
Please help with these questions
The positive slope of the supply curve tells us that input prices have no effect on the supply of a good. firms respond to a higher price of their product by increasing the quantity supplied. firms disregard the law of demand. taxes do not affect the cost of producing a good. Which of the following variables will change in response to a change in price? Supply Demand Consumer preferences Quantity demanded If other things are held constant, an increase in wages earned by workers in the steel industry will cause the demand for steel to increase. the demand for steel to decrease. the supply of steel to increase. the supply of steel to decrease.Explanation / Answer
1) a 2) c 3)c