The law of supply states that

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The law of supply states that firms will supply more of a product as its price rises. This is because as the price increases, firms are able to earn more revenue and cover higher production costs, making it profitable to produce and sell more of the product. Conversely, firms will supply less of a product as its price falls, since there is less incentive to produce and sell at a lower price that may not cover costs. Consumer income is not directly related to the law of supply, as it may influence demand but not necessarily the producer's decision to supply a product.

The Law of Supply States That