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According to the law of supply, what happens when price increases, ceteris paribus?(1 point)
Responses
supply increases
supply increases
supply decreases
supply decreases
quantity supplied increases
quantity supplied increases
quantity supplied decreases
quantity supplied decreases
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GPT-5 mini
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Quantity supplied increases.
Explanation: Under the law of supply, ceteris paribus (all else equal), a higher price gives producers an incentive to offer more of the good, so the quantity supplied rises.
Explanation: Under the law of supply, ceteris paribus (all else equal), a higher price gives producers an incentive to offer more of the good, so the quantity supplied rises.
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