What is the Law of Supply?

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The Law of Supply microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa.

Expert answered|Shanaaz1986|Points 150|

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Asked 4/13/2012 9:24:42 PM

Updated 2/8/2015 12:45:48 PM

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This answer has been confirmed as correct and helpful.

Edited by yumdrea [2/8/2015 12:45:45 PM], Confirmed by yumdrea [2/8/2015 12:45:48 PM]

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