Question

Which of the following interactions is consistent with the law of demand?

Answer 1

Which of the following is consistent with the law of supply:
1. The price of a good falls and its supply decreases.
2.The price of a good rises and its quantity supplied decreases.
3.The price of a good rises and its supply increases.
4.The price of a good rises and its quantity supplied increases.
 
As the price of a product goes down, the quantity supplied goes up. As the price of a product goes up, the quantity supplied goes down. As the price of a product goes down, the quantity supplied goes down. As the price of a product goes up, the quantity supplied stays the same.