Advertisements
Advertisements
Question
The producers prefer to supply more when prices are ______.
Options
Low
High
Negative
Positive
Advertisements
Solution
The producers prefer to supply more when prices are high.
APPEARS IN
RELATED QUESTIONS
What are the reasons for upward sloping supply curve?
State and explain the elasticity of supply.
Examine the Law of Variable Proportions with the help of a diagram.
The Law of Supply states that other things being constant ______.
Explain the law of supply.
Which of the following is NOT an assumption of the Law of Supply?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
What is the relationship between price and quantity supplied described by the Law of Supply?
What does the supply curve typically look like according to the Law of Supply?
Which real-life example best illustrates the Law of Supply?
