If the law of supply holds,then the supply curve can never

Question

Quizplus · Accepted Answer

The law of supply states that as the price of a good increases, the quantity supplied of that good will also increase. This means that the supply curve will always slope upwards, indicating that as price increases, so does quantity supplied. Therefore, choice A is incorrect and cannot be the answer.

Choice B is incorrect because the shape of the supply curve can be concave, convex, or linear. The curvature of the supply curve depends on the elasticity of supply for the good.

Choices C and D are incorrect because the supply curve can shift to the right or left due to changes in factors other than price (such as changes in technology, input costs, or taxes).

If the Law of Supply Holds,then the Supply Curve Can