Question

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.

Answer 1

c.It increases.

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.