The higher the price of a good or service, the greater the amount a producer is willing to supply.

Name: The higher the price of a good or service, the greater the amount a producer is willing to supply.
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Question

Quizplus · Accepted Answer

This statement reflects the law of supply, which asserts that as the price of a product increases, the quantity supplied by producers increases as well, assuming all other factors remain constant.

The Higher the Price of a Good or Service, the Greater