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1. The claim that, other things being equal, the quantity supplied of a good increases when the price of that good rises 2. A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices

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henrydesanta

Answer:

The answer for the 1st one is The Law of supply which states that there is an positive relationship between the price of a good and it's market supply. This is mainly.because when the prices increase, the ability to cover the opportunity ost increase along with the ability to make profits. Which in turn entice more producers to enter the market.

The 2nd answer is the supply curve. This can be used to find various output levels at various price Points.

Explanation:

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