Which statement best explains the law of supply? The quantity supplied by producers increases as prices rise and decreases as prices fall. The quantity supplied by producers decreases as prices rise and increases as prices fall. The quantity supplied by consumers increases as prices rise and decreases as prices fall. The quantity supplied by consumers decreases as prices rise and increases as prices fall.

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23 July, 06:43

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Melissa Miller · Answer 1

The first statement.

1.) The quantity supplied by producers increases as prices rise and decreases as prices fall.