Explain the law of supply
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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
Answered by
1
Answer:
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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