Which of the following is an implication of the law of supply?
Part 2
A.
Increases in money prices will lead to an increase in supply while increases in relative prices will lead to a decrease in supply.
B.
Producers will offer more units at a higher price and fewer units at a lower price.
C.
Changes in the price of a good leads to a shift in the supply curve.
D.
Individuals will purchase fewer units at a higher price and more units at a lower price.
1 answer
B. Producers will offer more units at a higher price and fewer units at a lower price.