Social Studies

Lillianna Montoya

20 December, 07:11

Read this scenario and answer the question that follows it. Sample scenario: A factory produces blue and green widgets, both at equal production costs. In one day, the factory can make 20 widgets of either color. The factory has been making 10 blue and 10 green widgets per day because they both sell for $5.00. Recently, the price of blue widgets has increased from $5.00 each to $8.00 each. How does the law of supply say the factory will respond to the increase in the price of blue widgets? by increasing the number of green widgets supplied by not changing the number of blue widgets produced by increasing the number of blue widgets supplied by decreasing the number of blue widgets supplied