Question

Q.13 :-
A rise in the price of a good causes producers to supply more of the good. This statement illustrates
1the law of demand.
2the law of supply
3 a change in supply
4the nature of an inferior good.​

Answer 1

3 changs in supply

.....

Answer 2

Option 2 is the correct answer.

A rise in the price of a good causes producers to supply more of the good. This statement illustrates law of supply.

Law of supply

1. A rise/fall in the price of a good leads to increase/decrease in the goods supplied by a producer, keeping other factors constand.
2. This is done by the suppliers in order to increase their profits.
3. This leads to upward sloping supply curve as well.