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What does the law of supply state?

a-When the price is higher, the quantity supplied is lower.
b- When the price is higher, the quantity supplied is higher.
c-When the price is lower, the quantity supplied is higher.

1 Answer

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Final answer:

b- When the price is higher, the quantity supplied is higher. The law of supply states that when the price is higher, the quantity supplied is also higher. Conversely, when the price is lower, the quantity supplied is lower.

Step-by-step explanation:

The law of supply states that when the price of a good or service is higher, the quantity supplied is also higher. This means that as the price increases, producers are willing to supply more of the good or service to the market. On the other hand, when the price is lower, the quantity supplied is lower. This is because producers are not willing to supply as much at lower prices.

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