Question

if law of supply hold then supply curve will be -
a) downward
b) vertical
c) upward
d) horizontal​

Answer 1

Answer:

Upward............ I think

Answer 2

If Law of Supply is applicable then the supply curve will be upward sloping.So the correct answer is option c) or upward.

Explanation:

Law of Supply states that as the price of a good or service increases,its supply by the firms/companies/producers will also rise or increase as the higher price would invoke the possibility of higher revenue and attracted by the opportunity,producers or companies will increase the production or supply in the market.This will cause an increase in the supply level of the good or service in the market but however,if the demand for the good or service doesn't increase proportionately or commensurately,it will create a gap between the supply and demand which is commonly known as excess in Economics.