Question

2. Law of Supply and Its Explanation
Due 2: Explain the law of supply with the help of supply schedule and diagram.
1. Introduction : Supply is that amount of production, which a producer is able and i​

Answer 1

: Law of supply states that other factors remaining constant, price and quantity supplied of a good are directly related to each other. In other words, when the price paid by buyers for a good rises, then suppliers increase the supply of that good in the market.