explain the law of supply and supply cruve
Answers
Answered by
0
The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.
Hope it's help you
Answered by
0
The law of supply states that, other things being equal, the supply of a commodity increases with an increase in its price and decreases with a fall in its price.
Supply curve is a graphical representation of a supply schedule.
Supply curve is a graphical representation of a supply schedule.
Similar questions