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The law of supply states that A. as prices rise, so will supply and vice versa. B. as prices fall, supply will rise and vice versa. C. as prices rise, supply will fall and vice versa. D. as prices rise, supply will stabilize and vice versa.
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Asked 2/7/2013 8:48:04 PM
Updated 9/13/2016 1:18:27 PM
1 Answer/Comment
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Flagged by emdjay23 [9/13/2016 1:18:25 PM]
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User: The law of supply states that A. as prices rise, so will supply and vice versa. B. as prices fall, supply will rise and vice versa. C. as prices rise, supply will fall and vice versa. D. as prices rise, supply will stabilize and vice versa.

Weegy: The substitute effect: C. When the price of one good rises, the demand for substitutes for that good rises, and vice versa. [ ]
cha97mw|Points 1146|

Question
Asked 2/7/2013 8:48:04 PM
Updated 9/13/2016 1:18:27 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by emdjay23 [9/13/2016 1:18:25 PM]
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The law of supply states that as prices rise, so will supply, and as prices fall, so will supply.
Added 9/13/2016 1:18:27 PM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [9/13/2016 4:18:45 PM]
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Questions asked by the same visitor
A _________ happens when the quantity supplied is more than the quantity demanded and often leads to a drop in prices. A. surplus B. shortage C. price floor D. price ceiling
Weegy: A surplus happens when the quantity supplied is more than the quantity demanded and often leads to a drop in price. (More)
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