Exam (elaborations) ECS1500 - Economics 1500, Informative, ECS1500,Economics 1500, Assignment 2, 2023, Guidance.
The document will guide you on how to answer your assignment 2 of ECS1500, practice and pass
1. The tastes and preferences of the consumer are factors that will determine the supply of a
product.
The correct answer is 'False'.
2. The supply of a good decreases when the price of a complement in production _____________ and
decreases when the price of a substitute in production _____________.
The correct answer is: falls; rises
Continues on the next pages
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