A typical supply curve shows that an increase in the price of a good will cause the quantity supplied to:
A)remain constant.
B)fluctuate randomly around its equilibrium value.
C)increase.
D)decrease.

Question

Quizplus · Accepted Answer

According to the law of supply, as the price of a good increases, the quantity supplied by producers also increases. Therefore, an increase in the price of a good will cause the quantity supplied to increase, as shown on a typical supply curve.

A Typical Supply Curve Shows That an Increase in the Price