The law of supply states that the quantity of a good that is supplied is positively related to the price of the good, other things being equal. This means that as the price of a good increases, producers are willing to supply more of that good, while if the price decreases, they supply less.
The law of supply states that __________.
The quantity of a good that is supplied is unrelated to the price of the good, other things being equal.
The quantity of a good that is supplied is positively related to the price of the good, other things being equal.
The supply of a good creates its own demand for that good, other things being equal.
The quantity of a good that is supplied is negatively related to the price of the good, other things being equal.
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1 answer