Which statement is true about supply?
A) There is an inverse relationship between price and quantity supplied.
B) Supply refers to the amount of inventory that sellers have in their warehouses.
C) As price decreases, producers are willing to put more of the good on the market for sale.
D) To entice producers to offer more of a good on the market for sale, price must rise.

Question

Quizplus · Accepted Answer

Supply typically increases as the price increases because higher prices can cover the higher production costs and are more profitable, encouraging producers to supply more.

Which Statement Is True About Supply