Final answer:
The student's question is about the law of supply in economics, where a higher price results in a higher quantity supplied and vice versa. The example provided with cars illustrates this principle graphically and in tabular form, showing the direct relationship between price and quantity supplied.
Step-by-step explanation:
The question pertains to the law of supply, which is a fundamental principle in economics that states there is a direct relationship between the price of a good and the quantity of it that suppliers are willing to produce. As the price increases, suppliers are willing to supply more of the good, and as the price decreases, they are willing to supply less, assuming all other factors remain constant (ceteris paribus). This relationship is typically represented graphically by a supply curve, which slopes upward to the right, indicating that higher prices lead to higher quantities supplied.
Using the example given, when the price of cars is $20,000, suppliers are willing to supply 18 million cars (point J on the supply curve). If the price increases to $22,000, the quantity supplied rises to 20 million cars (point K on the supply curve). This example demonstrates the common relationship described by the law of supply and can be depicted in a table as well, showing the same correlation between price and quantity supplied.