According to the law of supply, what happens when the price of a good rises?

The law of supply states that, all else being equal, an increase in the price of a good will lead to an increase in the quantity supplied. This relationship is based on the incentive for producers to supply more of a good when they can obtain a higher price for it. As the price rises, existing producers are motivated by the potential for greater revenue and profit, and new firms may also enter the market or increase their production as it becomes more profitable to do so.

In contrast, if the price were to fall, producers would likely decrease the quantity they supply because the incentivizing factor of higher profits would diminish. Hence, option B accurately captures the relationship outlined by the law of supply, establishing that a rise in price results in an increase in quantity supplied.