Question

This law simply states that when a good/service price is lower consumers will buy

more of it:
O Income effect
O Law of demand
O Substitution effect
Law of supply

Answer 1

law of supply

Step-by-step explanation:

as the price of a good increases, the quantity a producer is able and willing to produce. The value of supply is found at the intersection between quantity and price.

Answer 2

the law of demand

Step-by-step explanation:

the law of demand states that as the price of a good/service rises, the quantity demanded of that good/service will decrease and when the price of a good/service falls, the quantity demanded of that good/service rises.