Sign In
Ask Question
Brenton Mcgee
Business
21 January, 01:35
What is the law of supply
+1
Answers (
2
)
Dominique Becker
21 January, 01:42
0
The law of supply is a fundamental principle of economic theory which states that, other factors held constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes
Comment
Complaint
Link
Rhett Aguirre
21 January, 01:58
0
The law of supply refers to the law that states as long as everything is equal/constant, when the price of a good or service increases, the quantity of the good or service will increase. This is also true to that if everything stays the same, but the price of a good or service decreases so will the quantity of the good or service. All factors have to remain equal for this to work. Price and quantity supplied of a good are directly related to each other.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“What is the law of supply ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What is the chance of me being in the U. S. Air Force!
Answers (2)
The us constitution gives the legislature branch the power to make laws. what is this an example of?
Answers (1)
4. The manager of a company wants to inform his employees that they will not receive a high holiday bonus because revenue is down by 5%.
Answers (1)
Which of the following is not a type of consumer credit? A. Credit card accounts B. Student loans C. Savings accounts D. Automobile loans
Answers (2)
Which organizational pattern argues that there is a direct relationship between two things?
Answers (1)
New Questions in Business
Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Credit card sales on July 8, 2016 amounted to $12,000 and were subject to a 2.5% bank fee.
Answers (1)
Osborn Company's unadjusted book balance at June 30, 2014 is $7,800. The company's bank statement reveals bank service charges of $45.
Answers (1)
Which of the following is a correct formula when markup is based on selling price? a Dollar markup X Selling price = Percentage markup b Dollar markup + Percentage markup = Selling price c Dollar markup - divide by-Percentage markup =
Answers (1)
Knorr issues 1,000 shares of $2 par value common stock for $10 per share. The journal entry to record this transaction will include which of the following?
Answers (1)
joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000 from one of her accounts. joan is 62 years old how does this transaction affect her 2018 tax return
Answers (1)
Home
»
Business
» What is the law of supply
Sign In
Sign Up
Forgot Password?