According to the law of supply, what happens to the quantity that the suppliers create when the prices increase? According to the law of supply, when prices increase, the quantity that suppliers create.

Question

Janetta

Business

12 February, 06:51

According to the law of supply, what happens to the quantity that the suppliers create when the prices increase? According to the law of supply, when prices increase, the quantity that suppliers create.

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Answers (2)

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Jamya Mccullough · Answer 1

According to the law of supply The quantity of production or output increases if the prices increase.

Explanation:

The correlation between prices and the quantity produced is direct this means that a positive change in one variable such as price has a positive change in the quantity.

Hailie Bright · Answer 2

Answer: The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.