the law of supply states that there is a positive relationship between the price and the quantity supplied…

the law of supply states that there is a positive relationship between the price and the quantity supplied. thus, as the price increases, the\na. quantity demanded increases.\nb. demand increases.\nc. quantity supplied by firms increases.\nd. supply increases.

the law of supply states that there is a positive relationship between the price and the quantity supplied. thus, as the price increases, the\na. quantity demanded increases.\nb. demand increases.\nc. quantity supplied by firms increases.\nd. supply increases.

Answer

Brief Explanations:

The law of supply indicates that when the price of a good or service rises, firms are willing to supply more of it. Quantity supplied refers to the amount of a product that firms are willing to sell at a particular price. An increase in price leads to an increase in the quantity supplied by firms along the supply - curve. Quantity demanded is related to the law of demand. Demand and supply are overall concepts, while quantity supplied is specific to the amount at a given price.

Answer:

C. quantity supplied by firms increases.