according to the law of supply, the quantity supplied of any commodity is ______ related to its price, other…
according to the law of supply, the quantity supplied of any commodity is ______ related to its price, other things being equal. a. directly b. proportionately c. negatively d. inversely
Answer
Brief Explanations:
The law of supply states that, ceteris paribus (other things being equal), as the price of a commodity rises, the quantity supplied of that commodity increases, and as the price falls, the quantity supplied decreases. This indicates a direct relationship. Proportionality implies a fixed - ratio relationship which is not always the case in supply. Negative and inverse relationships are the opposite of what the law of supply describes.
Answer:
A. directly