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1. If there is a change in the price of a good, then the supply of that good will change. True False
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45 votes
45 votes
1. If there is a change in the price of a good, then the supply of that good will change.

True
False

User Jakumi
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1 Answer

7 votes
7 votes

Answer:

True

Step-by-step explanation:

The change in price level changes the supply of goods. When price level increases, producers or suppliers will be willing to produce and supply more. However, when prices reduce, producers or suppliers may decide to supply less because they wont be making much money as they should if the price level did not fall.

User Ahmadalibaloch
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