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Nana76 [90]
2 years ago
13

The law of supply indicates that, other things equal, Multiple Choice producers will offer more of a product at high prices than

at low prices. the product supply curve is downsloping. producers will offer more of a product at low prices than at high prices. consumers will purchase less of a good at high prices than at low prices.
Business
1 answer:
Alex777 [14]2 years ago
7 0

The law of supply generally asserts that the producers will offer more of a product at high prices than at low prices.

<h3>What does law of supply states?</h3>

The economic law states the higher the price, the higher the quantity demanded; because the sellers get more profit when the price is higher, this encourages the producer to produce at high price.

Therefore, the Option A is correct.

Read more about law of supply

<em>brainly.com/question/1222851</em>

#SPJ12

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a change in consumer tastes for the product.

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A change in consumer taste about a product causes the demand curve and not the supply curve to change.

If the cost of Labour increases, cost of production is higher and supply would fall. The supply curve would shift leftward.

If the cost of Labour falls, cost of production is lower and supply would increase. The supply curve would shift to the right.

If it is expected that price would increase, supply would increase and the supply curve would shift to the right.

If the number of sellers increases, supply would increase and the supply curve would shift to the right.

If the number of sellers decreases, supply would fall and the supply curve would shift to the left.

I hope my answer helps you

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