1 of 5
The Law of Supply states that:
Price changes shift the supply curve.
As price increases, quantity increases.
As price increases, quantity decreases.
Price changes have no effect on quantity.

Question

21-09-2022
Social Studies

Answered

1 of 5
The Law of Supply states that:
Price changes shift the supply curve.
As price increases, quantity increases.
As price increases, quantity decreases.
Price changes have no effect on quantity.

Answer :

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aryanagarwal466 aryanagarwal466 · Answer 1 · 2022-09-22T15:09:11-04:00

The Law of Supply states that As price increases, quantity increases.

The Law of supply is a cornerstone of economic theory that holds that, given a set of other variables, a rise in price leads to an increase in the amount provided. To put it another way, there is a direct connection between price and quantity, with quantities responding in the same way to price changes. In order to increase profits, companies are eager to increase output and sell more of a product on the market at higher prices.

The Law of supply, which may be summed up as a favorable connection between amount provided and price, accounts for the rising slope of the supply curve.

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1 of 5 The Law of Supply states that: Price changes shift the supply curve. As price increases, quantity increases. As price increases, quantity decreases. Price changes have no effect on quantity.

Answer :

Other Questions

1 of 5
The Law of Supply states that:
Price changes shift the supply curve.
As price increases, quantity increases.
As price increases, quantity decreases.
Price changes have no effect on quantity.