Question

pregunta 64 (1 punto)
costs that vary, depending on how much a business produces, are known as ____.

a variable costs
b total costs
c input costs
d marginal costs

pregunta 65 (2 puntos)
the law of supply says: as prices increase, quantity supplied __; and as prices decrease, quantity supplied __.

a decreases; varies
b increases; decreases
c decreases; increases
d increases; increases

Explanation:

stating that there is a direct positive relationship between the price of a good and the quantity suppliers are willing to offer. When prices rise, suppliers have an incentive to produce and sell more to maximize revenue, so quantity supplied increases. When prices fall, suppliers have less incentive to produce, so quantity supplied decreases.

Answer:

stating that there is a direct positive relationship between the price of a good and the quantity suppliers are willing to offer. When prices rise, suppliers have an incentive to produce and sell more to maximize revenue, so quantity supplied increases. When prices fall, suppliers have less incentive to produce, so quantity supplied decreases.