In addition to your answer, according to history.com:
"<span>The Cretaceous-Tertiary </span>extinction<span> event, or the K-T event, is the name given to the die-off of the</span>dinosaurs<span> and other species that took place some 65.5 million years ago. For many years, paleontologists believed this event was caused by climate and geological changes that interrupted the </span>dinosaurs<span>' food supply."</span>
The law of supply states that a higher price leads to a higher quantity supplied and that a lower price leads to a lower quantity supplied. Supply curves and supply schedules are tools used to summarize the relationship between supply and price.
