The law of supply indicates that:

Question

Quizplus · Accepted Answer

The law of supply states that producers will offer more of a product as its price increases, and less of it as its price falls. This means that the supply curve is upward-sloping, not downward-sloping as option B suggests. Option C describes the law of demand, which states that consumers will purchase less of a product as its price increases, and more of it as its price falls. Option D is the inverse of the law of supply, so it is incorrect. Option E also describes the law of demand, so it is incorrect as well.

The Law of Supply Indicates That