The theory that quantity supplied and price are positively related, other things constant, is referred to as the law of:
A) opportunity cost.
B) profit maximization.
C) supply.
D) demand.

Name: The theory that quantity supplied and price are positively related, other things constant, is referred to as the law of: A) opportunity cost. B) profit maximization. C) supply. D) demand.
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Question

Quizplus · Accepted Answer

The law of supply states that, all else being equal, an increase in price results in an increase in quantity supplied.

The Theory That Quantity Supplied and Price Are Positively Related