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According to the Law of Supply, if the price of a product goes up then ________.

a. demand will go down.
c. demand will go up.
b. quantity supplied will go up.
d. quantity supplied will go down.

1 Answer

4 votes
According to the Law of Supply, if the price of a product goes up then the quantity supplied will go up. The correct option among all the options given in the question is option "b". Since the company would try to maximize the profit amount regarding the product whose price has been raised, it will increase the quantity of product available in the market.

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