The law of supply states that price and quantity supplied are directly related. What does this...

 

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The law of supply states that price and quantity supplied are directly related. What does this mean? When the price decreases, supplier are less willing and less able to provide as much to the market. When price decreases, suppliers don't change their quantity supplied because they make a certain amount of product independent of price. When the price decreases, supplier are more willing and more able to provide more to the market because they know more customers will buy at a lower price. The law of supply states that price and quantity supplied are directly related. What does this mean? When the price decreases, supplier are less willing and less able to provide as much to the market. When price decreases, suppliers don't change their quantity supplied because they make a certain amount of product independent of price. When the price decreases, supplier are more willing and more able to provide more to the market because they know more customers will buy at a lower price.

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When the price decreasessupplier are less willing and less able to provide as much to the market Exp... View the full answer