his Question: 1 pt 130150 (9 complete) The law of supply states that there is a

Question

his Question: 1 pt 130150 (9 complete) The law of supply states that there is a relationship between the price and Thus, as the price increases, A. the quantity demanded increases. O B. the supply increases. O C. the quantity produced by firms increases. 0 D. the demand increases. According to the law of supply, as the price of the good increases, it causes O A. O B. O C. O D. a shift of the supply curve to the right. a movement downward along the supply curve. a shift of the supply curve to the left. a movement upward along the supply curve.

Explanation / Answer

Correct Answer:

Direct (positive)

Quantity supplied

Explanation:

There is an increase in quantity supplied with the increase in price. It happens as producers want to maximize the profit at the higher price.

Correct Answer:

C

To maximize the profit, the produces produce more with increases of prices. So, supply increases in the market.

Correct Answer:

D

With increase in price, the quantity supplied increases. But, it is along the supply curve and in an upward direction.

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.