What is the result of an increase in a product's price?
A) Product supply does not change, but quantity supplied increases.
B) Product supply does not change, but quantity supplied decreases.
C) Product supply decreases.
D) Product supply increases.

Question

Quizplus · Accepted Answer

An increase in a product's price does not change the supply curve itself (which is the relationship between price and the quantity supplied at those prices), but it does lead to an increase in the quantity supplied. This is because suppliers are typically willing to sell more of a product at higher prices.

What Is the Result of an Increase in a Product's