Which statement is consistent with the law of supply? a. An increase in market p

Question

Which statement is consistent with the law of supply?

a. An increase in market price will lead to an increase in quantity supplied                                                     b. An increase in market price will lead to a decrease in quantity supplied                                                c. At a zero price, quantity supplied will be infinite                                                                                  d. A reduction in market price will lead to an increase in quantity supplied

Explanation / Answer

b. An increase in market price will lead to a decrease in quantity supplied

R : rest of all represent an inversely related relationship.Quantity supplied of a good is inversely related to the good's price

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.