Asked by
Nurse Barbie
on Dec 11, 2024Verified
If price rises, what happens to quantity supplied of a product?
A) It increases.
B) It decreases.
C) It does not change.
D) Quantity supplied is constant, but supply increases.
Quantity Supplied
The total amount of a product that producers are willing and able to sell at a given price in a certain time period.
Price Rises
An increase in the cost of goods or services in the market, often due to factors like inflation, increased demand, or higher production costs.
- Understand the impact of price variations on the supply and demand dynamics.
Verified Answer
SD
Learning Objectives
- Understand the impact of price variations on the supply and demand dynamics.