Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 3 - Demand, Supply, and Market Equilibrium - Discussion Questions: 4

Answer

The answer is below.

Work Step by Step

Like demand, there are many things that impact supply. Some include: the price of similar goods, the profit of making the good, the costs of entering the market, the number of consumers who want to buy the good, the number of sellers, and the conditions set by the government for the given market.
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