2
QuizMultiple Choice

The Law of Supply — Quiz

Question 2 • Economics

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

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

Explanation

The law of supply describes a direct relationship between price and quantity supplied, assuming other factors stay the same. When the price rises, producers generally are willing to supply more of the good. Therefore, the quantity supplied increases.

AI-written and checked against the verified answer.

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