Suppose that in each of four successive years producers sell more of their product and at higher prices. This could be explained: a. By small annual increases in supply. b. In terms of a stable supply curve and increasing demand. c. In terms of a stable demand curve and increasing supply. d. As an exception to the law of demand.

Question

Deangelo Stevenson

Business

22 January, 05:18

Suppose that in each of four successive years producers sell more of their product and at higher prices. This could be explained: a. By small annual increases in supply. b. In terms of a stable supply curve and increasing demand. c. In terms of a stable demand curve and increasing supply. d. As an exception to the law of demand.

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Answers (1)

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Allyson Mcdonald · Answer 1

Answer:B

Explanation:

In terms of stable supply curve and increasing demand. Looking at the law of demand that state the lower the price, the higher the quantity demanded. The law of supply also state that keeping other factors constant, an increase in price results in an increase in quantity supplied.