Question 2 (3 points) The supply of a product normally decreases if
а
the cost of inputs goes down.
more producers enter the market.
price of the product increases.
taxes on the product increase.
Question 3 (3 points)
What two factors are necessary for demand?
a
familiarity with a good or service and the desire to pay for it
desire for a good or service and its availability in the market
desire for a good or service and the ability to pay for it
the availability of a good or service and the ability to pay for it
n
d