Answer to Question #82663 in Microeconomics for Fatimah okunade

Question

The law of supply state that

Answer 1

The law of supply is the microeconomic law that states that, ceteris paribus (all other factors being equal), as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa (as the price of a good or service decreases, the quantity of goods or services that suppliers offer will decrease.