brooklynnklairetaylo brooklynnklairetaylo
  • 11-11-2020
  • Social Studies
contestada

Why does the supply of a good increase as the price increase?

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iiamrd
iiamrd iiamrd
  • 11-11-2020

Answer:

With increase in Price, Suppliers will provide a higher Quantity. The Supply Curve, by itself, assumes nothing about the Quantity that will be consumed.

Explanation:

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jorgeismaelcruz
jorgeismaelcruz jorgeismaelcruz
  • 11-11-2020
So, when the price is high, all the lowest-cost production happens, as before. AND lots of the higher-cost production happens, too. So the quantity supplied, increases.
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