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4 Select all the correct answers. Which statements are true according to the law of supply? A decrease in demand leads to an increase in supply. A decrease in demand leads to a decrease in supply. An increase in price leads to a decrease in supply. A decrease in price leads to a decrease in supply. An increase in price leads to an increase in supply. Reset Ne

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Supply decreases as a result.

β€”Increase in price leads to an increase in supply.

As the price of a product falls, so does the amount of profit the sellers receive from selling the product. This would reduce the amount of supply so that it can become more profitable. The exact opposite happens when the price of the product rises.

Explanation:

the statements that are true under supply law are: – A reduction in price reduces the supply. β€”Increase in price leads to an increase in supply. An increase in the price encourages the producer to sell more because it forces them to make more profits, leading to an increase in supply.