The law of supply states that as the price of a good declines, the quantity supplied of that good remains the same. decreases. increases. disappears.

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Nerdyprincesd4702idn Nerdyprincesd4702idn

01-08-2022
Business

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The law of supply states that as the price of a good declines, the quantity supplied of that good remains the same. decreases. increases. disappears.

Sagot :

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Tundexiidn Tundexiidn · Answer 1 · 2022-08-05T11:22:38-04:00

The law of supply states that as the price of a good declines, the quantity supplied of that good decreases as well.

What is the law of supply?

This economic law states that other things equal, an increase in the price of a product will increase the quantity of it supplied, and conversely for a price decrease directly related.

Hence, the law of supply states that as the price of a good declines, the quantity supplied of that good decreases as well.

Therefore, the Option D is correct.

Sagot :

What is the law of supply?

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