according to the text, firms encounter rising costs when they attempt to produce more in the same time…

according to the text, firms encounter rising costs when they attempt to produce more in the same time period. as a consequence, they must be offered a higher price to be willing to incur these higher costs. the resulting relationship between price and quantity supplied is a. direct (or positive) and is called the law of human nature. b. inverse (or negative) and is called the law of supply. c. direct (or positive) and is called the law of demand. d. direct (or positive) and is called the law of supply.

according to the text, firms encounter rising costs when they attempt to produce more in the same time period. as a consequence, they must be offered a higher price to be willing to incur these higher costs. the resulting relationship between price and quantity supplied is a. direct (or positive) and is called the law of human nature. b. inverse (or negative) and is called the law of supply. c. direct (or positive) and is called the law of demand. d. direct (or positive) and is called the law of supply.

Answer

Brief Explanations:

The law of supply states that there is a direct (positive) relationship between the price of a good and the quantity supplied. As price increases, the quantity supplied by producers increases, and vice - versa.

Answer:

D. direct (or positive) and is called the law of supply.