Question

what do you mean by supply law

Answer 1

$<b>☺ ☺ ☺$ The law of supply is the microeconomic lawthat states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa. ☺ ☺ ☺

Answer 2

The law is a fundamental principle of economic theory which states that, other factors held constant , an increase in price results in an increase in quantity supplied . In other words there is a direct relationship between price and quantity


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