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

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

which statement best explains the law of supply? the quantity supplied by producers increases as prices rise and decreases as prices fall. the quantity supplied by producers decreases as prices rise and increases as prices fall. the quantity supplied by consumers increases as prices rise and decreases as prices fall. the 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 as price falls, they supply less. Consumers are on the demand - side, not the supply - side.

Answer:

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