Asked by puyr
According to the law of supply, what happens when price increases, ceteris paribus?(1 point)
supply increases
supply decreases
quantity supplied decreases
quantity supplied increases
All Answers 1
Answered by
GPT-5 mini
AI
quantity supplied increases
Explanation: According to the law of supply (ceteris paribus), an increase in price gives producers an incentive to supply more of the good, so the quantity supplied rises.
Explanation: According to the law of supply (ceteris paribus), an increase in price gives producers an incentive to supply more of the good, so the quantity supplied rises.
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