For almost all goods, the _____ the price goes, the _____.
A) lower; higher the quantity supplied
B) higher; more luxurious the good becomes
C) lower; more luxurious the good becomes
D) higher; higher the quantity supplied

Question

Quizplus · Accepted Answer

According to the law of supply, as the price of a good increases, the quantity supplied by producers also increases. Therefore, when the price of a good goes up, the quantity supplied also goes up. This relationship is represented by a positively sloped supply curve.

For Almost All Goods, the _____ the Price Goes, the _____

For Almost All Goods, the _ the Price Goes, the _