Question #52630
other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur,
a. the price of the commodity decreases.
a. the price of the commodity decreases.
Expert's answer
According to Supply Law if price of commodity decreases then Supply also decrease.
Suppliers are not ready to provide market with low prices because they need to return their costs and earn profit.
Suppliers are not ready to provide market with low prices because they need to return their costs and earn profit.
Learn more about our help with Assignments: Economics of Enterprise
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
#339914 on Dec 2023
#339914 on Dec 2023
Comments