which of the following is an implication of the law of supply?\na. producers will offer more units at a…

which of the following is an implication of the law of supply?\na. producers will offer more units at a higher price and fewer units at a lower price.\nb. changes in the price of a good leads to a shift in the supply curve.\nc. increases in money prices will lead to an increase in supply while increases in relative prices will lead to a decrease in supply.\nd. individuals will purchase fewer units at a higher price and more units at a lower price.\nthe law of supply then implies that a the supply curve occurs due to a change in market price movement along shift of

which of the following is an implication of the law of supply?\na. producers will offer more units at a higher price and fewer units at a lower price.\nb. changes in the price of a good leads to a shift in the supply curve.\nc. increases in money prices will lead to an increase in supply while increases in relative prices will lead to a decrease in supply.\nd. individuals will purchase fewer units at a higher price and more units at a lower price.\nthe law of supply then implies that a the supply curve occurs due to a change in market price movement along shift of

Answer

Brief Explanations:

The law of supply states that, ceteris paribus, the quantity supplied of a good rises when the price of the good rises, and falls when the price of the good falls. This implies producers offer more units at a higher price and fewer at a lower price. A change in market price causes a movement along the supply - curve, not a shift. Option D is about the law of demand. Option C has incorrect implications about money and relative prices on supply.

Answer:

A. Producers will offer more units at a higher price and fewer units at a lower price. movement along