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Raymond Zangina

how does price of related commodity determines supply

Posted in Economics, asked by Raymond Zangina, 6 years ago. 1684 hits.

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The answer is Positively. Choose any commodity; let's say You produce Timberland boots. People like them a lot and hence there is enough demand to increase the price. As a seller you wish to sell more because each pair of boots gives you more profit. Now, You have enough money to hire your friend and buy him equipment to work for you. So, the higher the price the more You and your friends are supplying Timberland Boots into the market. 

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Bobur Yusubov
Bobur Yusubov - 6 years ago
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