The law of supply states that as the market price increases a the quantity supplied increases b. the quantity supplied decreases c. the supply increases d. the supply decreases 2. The law of supply states that as the market price decreases a the quantity supplied increases b. the quantity supplied decreases c. the supply increases d. the supply decreases 3. As more firms exit the market a. the market supply increases (shifts to the right) b. the market supply increases (shifts to the left) c. the market supply decreases (shifts to the left) d. the market supply decreases (shifts to the right) 4. As more firms enter the market a the market supply increases (shifts to the right) b. the market supply increases (shifts to the left) c. the market supply decreases (shifts to the left) d the market supply decreases (shifts to the right)