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What does the law of supply predict, other things equal, when a good's own price rises?

Answer

Quantity supplied generally rises

Explanation

### Why this is right The law of supply describes the usual relationship between a good’s own price and quantity supplied. With other conditions unchanged, sellers generally offer more when the price rises. ### The concept A price change causes movement along the supply curve. A change in production cost or technology can shift the entire curve because it changes the amounts sellers are willing to offer at different prices. ### The other options - **Supply necessarily shifts left**: own-price changes move along the existing curve; a left shift requires another determinant to change. - **Quantity demanded necessarily rises**: this conflicts with the usual law of demand when own price rises. - **The market must remain in disequilibrium**: price changes can move a market toward equilibrium; they do not necessarily preserve imbalance. ### Remember Own price changes quantity supplied along the curve; other supply determinants shift it.

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