Question

There are some exceptions to the law of supply.

Hint:

Exceptions to the law of supply occur in special cases like Giffen goods and markets with limited capacity.

Answer 1

Agree:
The law of supply states that, generally, the quantity supplied of a good increases as the price increases. However, there are some exceptions to this law: 1. **Perishable Goods**: For certain perishable goods, the supply may decrease with an increase in price due to the difficulty in storing such goods.
2. **Giffen Goods**: For Giffen goods, as the price increases, the demand increases, which can lead to a reduction in supply for these goods.
3. **Market Saturation**: Once a market reaches saturation, further price increases may not result in more supply, especially for goods with a limited production capacity. Final Answer: \[ \boxed{Agree: \; There \; are \; exceptions \; such \; as \; perishable \; goods \; and \; Giffen \; goods.} \]