According to the law of supply, the quantity of an item supplied will rise as a result of: a) an increase in the number of firms producing the item. b) decreases in the prices of inputs used to produce the item. c) an increase in the price of the item. d) a decrease in the price of the item.

The answer is letter C, an increase in the price of the item.

Explanation:

In order to learn more about the answer, it is best to know what the Law of Supply is.

The Law of Supply is a fundamental principle in economic theory which states that, keeping other factors constant, an increase in price results in an increase in quantity supplied. This shows the direct relationship between price and quantity. It means that the quantity will respond in the same direction as price changes.

For example, if the price of a video game will increase, the company will make more copies of that video game. This also holds true if the price of the video game decreases. In this case, the company will lessen the supply of the video game.

there was no passage listed but using the process of elimination i'd say it was d. the high economy would do the opposite. i don't see how low prices would affect it. high unemployment is possible but i feel d is the better answer.

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?