The law of supply states that, other things being constant, as price increases
A.
Supply increases
B.
Supply decreases
C.
Quantity supplied increases
D.
Quantity supplied decreases
Correct Answer: Option C
Explanation
The law of supply says that a higher price will induce producers to supply a higher quantity to the market i.e. the higher the price, the greater the quantity supplied and vice versa.
Contributions ({{ comment_count }})
Please wait...
Modal title
Report
Block User
{{ feedback_modal_data.title }}