The law of supply says that when the price of televisions rises, the quantity supplied of televisions falls.

Question

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The law of supply actually states that when the price of a good or service rises, the quantity supplied of that good or service rises as well. This is because producers are incentivized to increase their production and supply of the good or service in order to earn more profit. The law of supply states that as the price of a good or service increases, the quantity supplied of that good or service will typically increase, not decrease.

The Law of Supply Says That When the Price of Televisions