Exhibit 4-4

-Refer to the supply curve in the exhibit.Suppose the price increases from P to P'.What will happen to the quantity supplied?

Name: Exhibit 4-4 -Refer to the supply curve in the exhibit.Suppose the price increases from P to P'.What will happen to the quantity supplied?
Brand: Quizplus
Rating: 4.8 (55 reviews)

Question

Exhibit 4-4
 
-Refer to the supply curve in the exhibit.Suppose the price increases from P to P'.What will happen to the quantity supplied?

Quizplus · Accepted Answer

According to the law of supply, as the price of a good increases, the quantity supplied of the good also increases. Therefore, if the price increases from P to P', the quantity supplied will increase.

Exhibit 4-4 -Refer to the Supply Curve in the Exhibit.Suppose the Price