When the selling price of a good goes up, what happens to the quantity supplied?

quantity demanded decrease

Explanation:

The law of supply asserts that if the price of a product increases, the quantity supplied rises. Firms will be willing to avail more goods and services in the markets at high prices. Businesses are profit-motivated. High prices mean a high margin level which is an opportunity for firms to make higher profits. With higher prices, firms tend to employ more workers to boost production.

A reduction in prices causes firms to cut down their production. Low prices imply low margins hence low profitability. A reduction in prices can force some firm to exit the market