The law of supply states that as prices _____, the quantity _____.

Name: The law of supply states that as prices _____, the quantity _____.
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Question

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The law of supply states that as prices rise, the quantity supplied rises. This means that producers are willing to increase the amount of a good or service they are willing to supply as the price they can charge for it increases. Conversely, if prices fall, producers are less willing to supply the good or service, resulting in a decrease in the quantity supplied.

The Law of Supply States That as Prices _____, the Quantity