Economics · Theory of Supply
What is the fundamental relationship represented by the Law of Supply?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The supply curve shifts to the right as the costs of production decrease.
- 2A direct relationship between the price of a good and the quantity supplied, ceteris paribus.✓
- 3The total supply of a good increases as the demand for it increases.
- 4An inverse relationship between the price of a good and the quantity supplied, ceteris paribus.
Correct answer
A direct relationship between the price of a good and the quantity supplied, ceteris paribus.
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