xmasolj xmasolj

19-06-2024
Business

Answered

Which statement best describes the relationship between price and quantity supplied?

A. When prices increase, quantity supplied increases.
B. When prices increase, quantity supplied stays the same.
C. When prices decrease, quantity supplied increases.
D. When prices decrease, quantity supplied stays the same.

Answer :

GinnyAnswer GinnyAnswer

19-06-2024

Final answer:

The relationship between price and quantity supplied follows the law of supply, where quantity supplied moves in the same direction as price changes.

Explanation:

The relationship between price and quantity supplied is such that quantity supplied moves in the same direction as price. As per the law of supply, when prices increase, the quantity supplied also increases. Conversely, when prices decrease, the quantity supplied decreases.

Learn more about Price and Quantity Supply Relationship here:

https://brainly.com/question/44028665

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