Question

Q3. Explain any 3 determinants of supply.

Answer 1

Cost of inputs. Cost of supplies needed to produce a good.

Productivity. Amount of work done or goods produced.

Technology. Addition of technology will increase production and supply.

Number of sellers. .

Answer 2

Answer:

Supply Determinants. Aside from prices, other determinants of supply are resource prices, technology, taxes and subsidies, prices of other goods, price expectations, and the number of sellers in the market.

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