Answer:
According to the law of supply, when the price of a good or service increases, the quantity supplied also increases. This means that producers are willing and able to supply more of the good or service at a higher price, as they can earn more revenue and profit from each unit sold. Conversely, when the price of a good or service decreases, the quantity supplied also decreases, as producers are less willing and able to produce and sell the good or service at a lower price. This relationship between price and quantity supplied is known as the law of supply.