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Suppose that, over a period of six months, the price of corn increased. Yet, the quantity of corn sold by producers decreased. Does this contradict the law of supply

User J Fritsch
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7 votes

Answer:

No , it doesn't

Step-by-step explanation:

According to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

according to the question, when the price of corn increased, the quantity of corn sold by producers decreased. This question makes no reference to how the price increase affected the quantity supplied. It just made reference to the quantity sold. so, there is no way to determine if the law of supply was violated.

User James Iry
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