Litrayimeryicakenz Litrayimeryicakenz
  • 20-03-2017
  • Business
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How does the incentive of greater profits affect supply?

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lr1265
lr1265 lr1265
  • 27-03-2017
The higher the price of the goods, the higher the incentive there is for a producer to produce more of the goods. Because the price of the good is higher, that means profits will be higher. Producers must be careful though because they need to make sure it covers the cost of producing more of these goods.
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