how does a change in each determinant affect the supply of a product
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how does a change in each determinant affect the supply of a product
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Determinants of supply (also known as factors affecting supply) are the factors which influence the quantity of a product or service supplied.
Change in the price of a product causes the price-quantity combination to move along the supply curve. However when the other determinants change, the supply curve is shifted.
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Answer:
How does a change in each determinant affect the supply of a product?
• Determinants of supply (also known as factors affecting supply) are the factors which influence the quantity of a product or service supplied. Change in the price of a product causes the price-quantity combination to move along the supply curve. However when the other determinants change, the supply curve is shifted.
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