According to the law of supply, price and quantity move
A. along a track in the same direction.
B. along a track in opposite directions.
C. from different points toward one another.
D. from the same point away from one another.
Answer (2)
According to the law of supply, price and quantity supplied move in the same direction. This means that as prices increase, quantities supplied also increase, and vice versa. Therefore, the correct answer is A: along a track in the same direction.
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The law of supply states that price and quantity supplied move in the same direction, meaning that as price increases, quantity supplied also increases. This relationship can be depicted on a graph where both variables show positive correlation. An example is a company increasing production when prices rise to maximize profits. ;
