According to the law of supply, the higher the price,

a. the more consumers are willing to pay.

b. the larger the quantity produced.

c. the smaller the quantity produced.

d. the more the availability of a good is reduced.

Question

Social Studies

Peyton Downs

6 November, 21:10

According to the law of supply, the higher the price,

a. the more consumers are willing to pay.

b. the larger the quantity produced.

c. the smaller the quantity produced.

d. the more the availability of a good is reduced.

+2

Answers (1)

Know the Answer?

Cesar Lynch · Answer 1

According to the law of supply, if the prize is high, the companies will want to produce a lot of this product (because the high prize is often due to a high markup) to increase their profit, so the correct answer is that The higher the prize

b. the larger the quantity produced.

According to the law of supply, the higher the price,a. the more consumers are willing to pay.b. the larger the quantity produced.c. the smaller the quantity produced.d. the more the availability of a good is reduced.

According to the law of supply, the higher the price,

a. the more consumers are willing to pay.

b. the larger the quantity produced.

c. the smaller the quantity produced.

d. the more the availability of a good is reduced.