Define law of supply quantity supplied rises as price, Ask an Expert

Economics

Define law of supply.

Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then sellers tend to supply a large amount of it and when the prices of a product falls, then the sellers tend to supply a smaller amount of it."

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9574850

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