The law of supply says that when the price of steel falls, the supply of automobiles rises.

Name: The law of supply says that when the price of steel falls, the supply of automobiles rises.
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Question

Quizplus · Accepted Answer

The law of supply states that when the price of a good rises, the quantity supplied of that good also rises, ceteris paribus. It does not state that a decrease in price leads to an increase in supply.

The Law of Supply Says That When the Price of Steel