A decrease in price leads to a decrease in quantity supplied.

Name: A decrease in price leads to a decrease in quantity supplied.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the law of supply, there is a direct relationship between price and quantity supplied, meaning that as the price decreases, the quantity supplied typically decreases as well. This is because producers are less willing to supply a good or service at lower prices.

A Decrease in Price Leads to a Decrease in Quantity