Explain the factors which affect individual supply of a commodity.
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Answer:
Below are some of the factors that affect the indivitual supply of a commodity.
Explanation:
- Price: this affects the supply of an indivitual commodity either positively or negatively.
- Cost of production of the commodity: the higher the cost of production of a commodity, the higher the price, the higher the demand, the lower the supply and vice versa.
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