How would the change in iron's value affect its supply? Read the passage and then answer the question.
Etruria was an ancient kingdom in what is now southern
Italy. The area was rich in minerals such as lead, tin,
copper, silver, and iron. The Etruscans traded these with
other civilizations. For many centuries, copper was
among the most valued metals. It was used for tools,
weapons and jewelry. Eventually, the Etruscans learned
to make stronger, more durable goods from iron.
Copper's value fell and iron's value rose.
O Higher prices would encourage producers to
increase supply
O Lower prices would decrease demand.
O The price would increase and the demand would
decrease
O The price would decrease and the supply would
increase