Question

The law of supply shows a ............. retationship between priceand supply when other things remains constant . options (a). propartinal
(b). negative (c). no
(d). positive

Answer 1

Answer:

The law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.