The law of supply states that what of a product will be offered at a high price and what of a producy will be offered at a low price?

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2026-03-14 18:45

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The law of supply states that a greater quantity of a product will be offered for sale at higher prices, as producers are more willing to supply more when they can receive higher revenue. Conversely, a lower quantity of a product will be offered at lower prices, as producers may not find it profitable to supply as much at reduced prices. This relationship reflects the direct correlation between price and quantity supplied.

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