Asked by
Mohammad Bakeer
on Dec 11, 2024Verified
According to the law of supply,
A) more of a good is desired by consumers as the price falls.
B) less of a good is desired by consumers as the price rises.
C) more of a good will be offered by suppliers as the price rises.
D) less of a good will be offered by suppliers as the price rises.
Law Of Supply
The principle that, all else equal, an increase in the price of a good will result in an increase in the quantity supplied.
Suppliers
Entities or individuals that provide goods or services to consumers, businesses, or other organizations.
Good
A physical item that is produced and can be offered to the market to satisfy a want or need.
- Acquire knowledge of the law of supply and analyze its effects on market dynamics.
Verified Answer
AR
Learning Objectives
- Acquire knowledge of the law of supply and analyze its effects on market dynamics.