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Law Of Supply

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Dictionary Says

Definition of 'Law Of Supply'

A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa.

Law Of Supply
Investopedia Says

Investopedia explains 'Law Of Supply'

As the price of a good increases, suppliers will attempt to maximize profits by increasing the quantity of the product sold.

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