draw a supply curve for sweaters and label it. use any prices and quantities you wish but make your supply…

draw a supply curve for sweaters and label it. use any prices and quantities you wish but make your supply curve obey the law of supply. what is the law of supply? the law of supply states that other things remaining the same, the higher the price of a good, the ______; and the lower the price of a good, the ______. a. smaller is the quantity supplied; greater is the quantity supplied b. smaller is the supply; greater is the supply c. greater is the supply; smaller is the supply d. greater is the quantity supplied; smaller is the quantity supplied

draw a supply curve for sweaters and label it. use any prices and quantities you wish but make your supply curve obey the law of supply. what is the law of supply? the law of supply states that other things remaining the same, the higher the price of a good, the ______; and the lower the price of a good, the ______. a. smaller is the quantity supplied; greater is the quantity supplied b. smaller is the supply; greater is the supply c. greater is the supply; smaller is the supply d. greater is the quantity supplied; smaller is the quantity supplied

Answer

Brief Explanations:

The law of supply states that, ceteris paribus (other things remaining the same), there is a positive relationship between the price of a good and the quantity supplied. As the price of a good rises, producers are willing to supply more of it to the market to earn higher revenues, and as the price falls, they are willing to supply less. Supply refers to the entire relationship between price and quantity supplied over a range of prices, while quantity supplied refers to the specific amount of a good producers are willing to sell at a given price.

Answer:

D. greater is the quantity supplied; smaller is the quantity supplied