What Does the Law of Supply State?

Answer

The law of supply is a microeconomic law stating that as the price of a good or service increases (and all other factors being equal), the quantity of goods or services offered by suppliers increases and vice versa. This law simply states that suppliers tend to offer more of a good/service at a higher price. As the price of a good/service increases, suppliers will attempt to maximise profits by increasing the quantity of the product sold.
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All other thing bean equal, when the price of supply is high more is supply and when is low less is supply.
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1 Additional Answer
The Law of Supply has much to do with microeconomics. The Law of Supply states that when the increase in demand increases the cost of the product may in fact actually decrease.
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