The law of supply implies that the supply curve is
A) flat.
B) upward sloping.
C) downward sloping.
D) vertical.

Name: The law of supply implies that the supply curve is A) flat. B) upward sloping. C) downward sloping. D) vertical.
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Question

Quizplus · Accepted Answer

The law of supply states that as the price of a good or service increases, the quantity supplied increases, ceteris paribus. Therefore, the supply curve is upward sloping, indicating a positive relationship between price and quantity supplied.

The Law of Supply Implies That the Supply Curve Is