Question

The Law of Supply states Group of answer choices A.the quantity supplied varies irregularly with its price B. the qantity demanded varies inversely with its price C.the quantitiy supplied varies inversely with its price D. the quantity supplied varies directly with its price.

Answer 1

Answer:

The correct answer is option D.

Explanation:

The law of supply is used to explain the relationship between the price of a product and its quantity supplied. According to this law, there is a positive relationship between the price of a product and the quantity supplied.

In other words, an increase in price will cause the quantity supplied to increase as well and vice versa.  

That is why the supply curve is upward sloping.