Question

According to the law of​ supply:_______.A. There is a positive relationship between price and quantity supplied. B. As the price of a product​ increases, firms will supply less of it to the market. C. As the price of a product​ increases, firms will supply more of it to the market. D. A and C only

Answer 1

D. A and C only

Step-by-step explanation:

According to the law of​ supply: There is a direct or positive relationship between price of goods & services and quantity supplied in the market. It says that if price of goods increases in the market, then supply of goods also increases, which help the supplier to gain more profit out of high price in the market. It show upward slope of supply curve in the graph, which is positive relation of quantity supplied and price of goods.