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  1. The law of supply states that as the price of a good declines, the quantity supplied of that good

remains the same.

decreases.

increases.

disappears

  1. The graph shows a point of equilibrium.



  2. What is the price at which equilibrium is achieved?

$8

$9

$10

$30

  1. What is one cause of scarcity?

an abundance of resources

limited resources

renewable resources

a choice of resources

The law of supply states that as the price of a good declines, the quantity supplied of that good remains the same. decreases. increases. disappears 2. The grap class=