According to the Law of Supply, what happens to an item as its price increases?

The Law of Supply states that, all else being equal, an increase in the price of a good or service leads to an increase in the quantity supplied by producers. This is because higher prices typically incentivize producers to increase their output, as they seek to maximize their potential profits. When the price rises, producers have more motivation to supply more of that item to the market, as they can receive a greater return for their efforts.

Producers often take into account their costs of production and potential profits when deciding how much to supply; therefore, a higher price generally makes it more profitable for producers to increase their production levels, leading to a greater quantity supplied in response to the price increase.