which statement best explains the law of supply?\nthe quantity supplied by producers increases as prices…

which statement best explains the law of supply?\nthe quantity supplied by producers increases as prices rise and decreases as prices fall.\nthe quantity supplied by producers decreases as prices rise and increases as prices fall.\nthe quantity supplied by consumers increases as prices rise and decreases as prices fall.\nthe quantity supplied by consumers decreases as prices rise and increases as prices fall.

which statement best explains the law of supply?\nthe quantity supplied by producers increases as prices rise and decreases as prices fall.\nthe quantity supplied by producers decreases as prices rise and increases as prices fall.\nthe quantity supplied by consumers increases as prices rise and decreases as prices fall.\nthe quantity supplied by consumers decreases as prices rise and increases as prices fall.

Answer

Brief Explanations:

The law of supply states that, ceteris paribus, the quantity supplied by producers is directly related to price. As price rises, producers are more willing and able to supply more, and vice - versa. Consumers are demand - side entities, not supply - side.

Answer:

The quantity supplied by producers increases as prices rise and decreases as prices fall.