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Homework answers / question archive / Which of the following best describes the law of supply? A

Which of the following best describes the law of supply? A

Business

Which of the following best describes the law of supply?

A. An increase or decrease in the price of a good will increase or decrease the amount producers are willing and able to produce and sell.

B. An increase or decrease in the price of a good will decrease or increase in the amount producers are willing and able to produce and sell.

C. An increase or decrease in the amount producers are willing to produce and sell will increase and decrease the price of the good.

D. An increase or decrease in the amount producers are willing to produce and sell will decrease or increase the price of the good.

E. An increase or decrease in the quantity demanded by consumers will increase or decrease the amount producers are willing to produce and sell.

Option 1

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