What is the relationship between the price of a product and the quantity supplied?(1 point)

Question

Responses

Price and quantity supplied move in the same direction; as price decreases, quantity supplied decreases and as price increases, quantity supplied increases.
Price and quantity supplied move in the same direction; as price decreases, quantity supplied decreases and as price increases, quantity supplied increases.

There is no relationship between the price of a product and the quantity supplied.
There is no relationship between the price of a product and the quantity supplied.

Price and quantity supplied move in the opposite direction; as price increases, quantity supplied decreases and as price decreases, quantity supplied increases.
Price and quantity supplied move in the opposite direction; as price increases, quantity supplied decreases and as price decreases, quantity supplied increases.

Price and quantity supplied share an inverse relationship; as price increases, quantity supplied decreases and as price decreases, quantity supplied increases.
Price and quantity supplied share an inverse relationship; as price increases, quantity supplied decreases and as price decreases, quantity supplied increases.

Answer 1

Price and quantity supplied share an inverse relationship; as price increases, quantity supplied decreases and as price decreases, quantity supplied increases.