The law of supply indicates that, all else held constant, rev: Multiple Choice a. producers will be willing and able to offer more of a product at high prices than at low prices. b. the product supply curve is downward-sloping. c. consumers will be willing and able to purchase less of a good at high prices than at low prices. d. producers will be willing and able to offer more of a product at low prices than at high prices.

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Business

Lindsey Bryant

29 July, 03:46

The law of supply indicates that, all else held constant, rev: Multiple Choice a. producers will be willing and able to offer more of a product at high prices than at low prices. b. the product supply curve is downward-sloping. c. consumers will be willing and able to purchase less of a good at high prices than at low prices. d. producers will be willing and able to offer more of a product at low prices than at high prices.

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Answers (1)

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Anton Morrison · Answer 1

The correct answer is the letter a

Explanation:

The supply curve shows the relationship between the price and quantity of goods that producers are willing to offer. Thus, the supply law indicates that producers will be more willing to offer products as prices rise. Rising prices and higher profits expect producers to produce more goods.