0
The law of supply says;
The supply will be increase due to increase in price and vice versa.
The reason is that the seller will maximize his profit.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
When According to the law of supply as the price rises for a good?
supply must go up
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
According to the law of supply What does an increase in the price of a good service or resource lead to an increase in?
Supply. If you are a supplier of a good - the price for your good increase - you will produce more to take advantage of this
What causes supply to grow as price rises?
law of supply
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
When According to the law of supply as the price rises for a good?
supply must go up
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
According to the law of supply What does an increase in the price of a good service or resource lead to an increase in?
Supply. If you are a supplier of a good - the price for your good increase - you will produce more to take advantage of this
What causes supply to grow as price rises?
law of supply
What According to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
How do war effect fossil fuels?
war doesn't effect fossil fuels , but it does effect fossil fuel prices when a country that has large amount of fossil fuel reserves is politically unstable it will reduce the amount of fossil fuels that can be delivered from it , there by increasing the price since the law of supply states that the lower the supply the higher the price
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
Which of these shows (displays) the law of supply?
The price of houses increases, and the supply increases
What statement refers to the law of supply?
Law of supply states that other factors remaining constant, supply is the function of its price where an increase in price of the commodity increases quantity supplied in the the market and a decrease in price reduces quantity supplied.
What are the Laws of economics?
The laws of economics are principles that govern economic behavior, such as the law of demand and supply, the law of diminishing returns, and the law of comparative advantage. These laws help explain how individuals and businesses make choices in the face of scarcity and how markets function to allocate resources efficiently.
Which of these statements refers to the law of supply?
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
What determines the price of a stock?
the law of supply and demand
