The law of supply states that there is a positive relationship between the price of a good and the quantity supplied (supply curves representing the price and quantity demanded). From a business owners standpoint, if I was wanting to sell more of a good, I would want to lower the price. This doesnt make sense to me. In my head more quantity should mean lower price.
The law of supply states that there is a positive relationship between the price of a good and the quantity supplied (supply curves representing the price and quantity demanded). From a business owners standpoint, if I was wanting to sell more of a good, I would want to lower the price. This doesnt make sense to me. In my head more quantity should mean lower price.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The law of supply states that there is a positive relationship between the
From a business owners standpoint, if I was wanting to sell more of a good, I would want to lower the price. This doesnt make sense to me. In my head more quantity should mean lower price.
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