Question

The Law of Supply represents the general tendency of ______________________.
a) buyers
b) sellers
c) government
d) labourers

Answer 1

Answer:

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Answer 2

Option b is the correct answer.

The Law of Supply represents the general tendency of sellers.

1. The law of supply states that sellers are willing to sell more at a higher price and lower the price lower will they be willing to sell.
2. Therefore the slope of supply curve is upward sloping.
3. Therefore we can say it is about the general tendency of sellers as their is to maximise their revenue.