Table 4-6
-Refer to Table 4-6. Which supply schedules obey the law of supply?

Name: Table 4-6 -Refer to Table 4-6. Which supply schedules obey the law of supply?
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Question

Table 4-6 
-Refer to Table 4-6. Which supply schedules obey the law of supply?

Quizplus · Accepted Answer

The law of supply states that as the price of a good increases, the quantity supplied by producers also increases. Only the supply schedules for Firm B and Firm D exhibit this relationship, with an increase in quantity supplied as the price increases. Therefore, the correct choice is D as it includes those firms that obey the law of supply.

Table 4-6 -Refer to Table 4-6. Which Supply Schedules Obey the Law