What does the law of supply state?
The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
- What happens when there is a decrease in supply? - If there is a decrease in supply... (Read More)
- What factors cause a decrease in supply? - Factors affecting the supply curveA decrease in... (Read More)
- What causes a decrease in supply curve? - Factors that can shift the supply curve... (Read More)
- What causes supply to increase? - changes in non-price factors that will cause... (Read More)
- What causes change in supply? - A change in supply can occur as... (Read More)
- What causes a change in supply and demand? - Change in Quantity Supplied. ... Here's one... (Read More)
- What is increase and decrease in supply? - Normally, when we speak of an increase... (Read More)
- Why does the supply curve shift to the left? - Supply curve shift: Changes in production cost... (Read More)
- When supply and demand are balanced it is called? - Equilibrium is the state in which market... (Read More)
- What is supply and the law of supply? - Definition: Law of supply states that other... (Read More)