Table 4-3 $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Price } \ \text { (Dollarsper unit) } \end{array} & \begin{array} { c } \text { Quantity Supplied } \ \text { (Units) } \end{array} \ \hline 12 & 170 \ \hline 25 & Q _ { 1 } \ \hline \end{array}$$ -Refer to Table 4-3. If the law of supply applies to this good, then Q₁ could be

Question

Quizplus · Accepted Answer

The law of supply states that as the price of a good increases, the quantity supplied of the good also increases, holding all else constant. Since the price increases from $12 to $25, the quantity supplied must increase from 170 units, making 190 a possible quantity supplied at the higher price.

Table 4-3 ​ -Refer to Table 4-3

Table 4-3
-Refer to Table 4-3