If price rises, what happens to supply for a product? Group of answer choices a. It does not change. b. Uncertain-economic theory has no answer to this question. c. It increases. d. It decreases.

Question

Yurem Douglas

Mathematics

13 November, 20:25

If price rises, what happens to supply for a product? Group of answer choices a. It does not change. b. Uncertain-economic theory has no answer to this question. c. It increases. d. It decreases.

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Answers (1)

Know the Answer?

Ayla Duffy · Answer 1

c. It increases.

Step-by-step explanation:

The Law of Supply and Demand states that:

The higher the prices, the higher the supply, the lower the demand. This means that at a higher price, sellers will try to sell more of the product (increasing supply), but buyers will buy less of this product (decreasing demand).

So the correct answer is:

c. It increases.