The economic principle that producers are willing to produce more output when price is high is depicted by the:

Name: The economic principle that producers are willing to produce more output when price is high is depicted by the:
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Question

Quizplus · Accepted Answer

The upward slope of the supply curve represents the law of supply, which states that as the price increases, producers are willing to produce and sell more output. Therefore, this principle is best depicted by the upward slope of the supply curve.

The Economic Principle That Producers Are Willing to Produce More