English, asked by anshukri2403, 6 days ago

explain determinatns of market supply

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Answered by Anaskhan322

0

Answer:

The most obvious one of the determinants of supply is the price of the product/service. With all other parameters being equal, the supply of a product increases if its relative price is higher. The reason is simple. A firm provides goods or services to earn profits and if the prices rise, the profit rises too.

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