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The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among prices and the quantity supplied. In other words, the supply curve has a positive slope that represents that as price increase (reduces) so too does quantity supplied.
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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What are the advantages of trade surplus
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