Question

Explain the law of supply with illustration
hi​

Answer 1

It is very important to note that the supply curve falls from right to left and it indicates that at high prices there is high supply and at low prices there is low supply. According to the Law of Supply, the quantity supplied of a commodity increases when its price rises and vice versa. and hi

Step-by-step explanation:

hope this helps have a good night/day :)

Answer 2

The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.