An increase in price results in increase in supply but not an increase in the quantity supplied.

Name: An increase in price results in increase in supply but not an increase in the quantity supplied.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in price typically results in an increase in the quantity supplied, not supply itself. Supply refers to the entire supply curve, while quantity supplied refers to a specific point on the curve.

An Increase in Price Results in Increase in Supply but Not