Answer the following statements true (T) or false (F)
1) An increase in the price of Good R will cause a movement upward on the supply curve for Good R.
2) If Goods Y and Z are complements in production, the increase in the price of Good Y will shift the supply curve for Good Z to the right.
3) Only a change in the price of almonds will cause a movement along the supply curve of almonds.
4) If Goods R and S are complements in production, if the price of Good R increases, both the supply curve for Good R and Good S will shift.
5) In terms of production, cost and price are the same.
1) TRUE
2) TRUE
3) TRUE
4) FALSE
5) FALSE
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