What is the relationship between price and the total quantity supplied by all firms in the market?

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2026-04-28 17:30

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The relationship between price and the total quantity supplied by all firms in the market is known as the law of supply. According to this law, as the price of a good or service increases, the quantity supplied by firms also increases, and vice versa. This means that there is a direct relationship between price and the total quantity supplied in the market.

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