Question

explain briefly law of supply

Answer 1

hey mate here is your answer

The law of supply is the microeconomic law that states that all other factors being equal, as a price of a good or service increases, the quantity of goods or services that supplies offer will increase, and vice versa

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Answer 2

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•Here is your answer..,




•The law of supply is a fundamental principle of economic theory which states that, other factors held constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.............

•Law of supply states that other factors remaining constant, price and quantity supplied of a good are directly related to each other. ... When the price of a good rises, the supplier increases the supply in order to earn a profit because of higher prices.



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