The price of pumpkins increases by 15% this year. According to the law of _________, we expect the quantity of pumpkins __________ to ________.

Name: The price of pumpkins increases by 15% this year. According to the law of _________, we expect the quantity of pumpkins __________ to ________.
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Question

Quizplus · Accepted Answer

According to the law of supply, if the price of a good increases, the quantity supplied typically increases as producers are willing to supply more at higher prices.

The Price of Pumpkins Increases by 15% This Year