The law of supply:

Question

The law of supply:

Quizplus · Accepted Answer

The law of supply states that producers offer more of a good or service as its price increases and less as its price decreases. This reflects the amounts that producers want to offer at each price in a series of prices. Therefore, choice A is correct. 
B is incorrect because the downsloping supply curve is a graphical representation of the law of supply, not the law itself. 
C is incorrect because the law of supply does not make any claim about the relationship between producer revenue and quantity supplied. 
D is incorrect because the law of supply is not related to the income and substitution effects of a price change.

The Law of Supply