The law of supply states that there is
A) an inverse relationship between price and technology, ceteris paribus.
B) a direct relationship between profit and quantity supplied, ceteris paribus.
C) no relationship between price of resources and number of suppliers, ceteris paribus.
D) a direct relationship between price and quantity supplied, ceteris paribus.

Question

Quizplus · Accepted Answer

The law of supply states that there is a direct relationship between the price of a good and the quantity supplied, ceteris paribus. This means that as the price of a good increases, firms are willing to supply more of it, and vice versa.

The Law of Supply States That There Is