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QuizMultiple Choice

Supply

Question 1 • FL-2106010-M/J Civics B

According to the law of supply, what happens to the quantity supplied when prices go up?

Answer
I
It increases.
I
It decreases.
I
It is unchanged.
I
It is variable.

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, when prices go up, the quantity supplied increases, which is choice A.

AI-written and checked against the verified answer.

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