Answered

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how would you explain the law of supply?
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Sagot :

Seunjinidn

Answer:

The law of supply is the microeconomic law that states that, 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.

Law of supply states that there is a direct relationship between the prices of goods and services and their quantity supplied. This means that when the prices of goods and services increase, the quantity supplies by the producers also increases. And if prices decrease, quantity supplied also decreases.

Explanation:

Chinchinkyeoptaidn

Answer:

The law of supply is the microeconomic law that states that, 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.

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