Alexander725 Alexander725
  • 25-04-2022
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Law of supply definition

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miamimfontaine
miamimfontaine miamimfontaine
  • 25-04-2022

Answer:

The law of supply is a theory in economics that indicates a direct relationship between price and supply.

Explanation:

Keeping other factors constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.

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