According to the law of supply
A) people buy more of a good when the price increases.
B) people buy less of a good when the price decreases.
C) producers provide more of a good when the price decreases.
D) producers provide less of a good when the price decreases.

Question

Quizplus · Accepted Answer

The law of supply states that producers will provide more of a good or service when the price increases, and less when the price decreases. Therefore, choice D is the correct answer. Choices A and B describe the law of demand, which is the opposite of the law of supply. Choice C is incorrect because producers provide less of a good, not more, when the price decreases.

According to the Law of Supply