which statement best explains the law of supply?\no the quantity supplied by producers increases as prices…

which statement best explains the law of supply?\no the quantity supplied by producers increases as prices rise and decreases as prices fall.\no the quantity supplied by producers decreases as prices rise and increases as prices fall.\no the quantity supplied by consumers increases as prices rise and decreases as prices fall.\no the quantity supplied by consumers decreases as prices rise and increases as prices fall.

which statement best explains the law of supply?\no the quantity supplied by producers increases as prices rise and decreases as prices fall.\no the quantity supplied by producers decreases as prices rise and increases as prices fall.\no the quantity supplied by consumers increases as prices rise and decreases as prices fall.\no the quantity supplied by consumers decreases as prices rise and increases as prices fall.

Answer

Answer:

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

Brief Explanations:

The law of supply states that, ceteris paribus, there is a direct relationship between the price of a good and the quantity supplied by producers. Producers are more willing to supply a greater quantity at higher prices to earn more profit.