What is likely to happen to the supply of a good if the price increases?

When the price of a good increases, suppliers are generally incentivized to produce and offer more of that good to the market. This reaction is based on the premise that higher prices often lead to higher potential revenues. As the price rises, the profit margin for suppliers typically widens, making it more appealing for them to increase production and supply to take advantage of the favorable market conditions.

In many economic models, this relationship is depicted by the law of supply, which states that, all else being equal, an increase in the price of a good will lead to an increase in the quantity supplied. Suppliers enter or expand their operations to capture more market share, leading to an increase in overall supply. Thus, the correct response accurately reflects how price dynamics affect supplier behavior in a market.