2
QuizMultiple Choice

Determining Market Price

Question 2 • RAIL NCAA OC Economics 2027

The law of supply states that as the price of a good rises, the quantity supplied of that good

Answer
A
disappears.
B
decreases.
C
remains the same.
D
increases.

Explanation

The law of supply says that, all else being equal, producers are willing to supply more of a good when its price rises. Therefore, the quantity supplied increases, making “increases” the correct choice.

AI-written and checked against the verified answer.

Previous
Next