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  • Supply
    • Definition:
      • Quantity of a good/service that producers supply to the market at a given price at a particular time.
    • Supply Curve
      • The relationship between price and quantity supplied.
      • Quantity Supplied increases because the higher the price of the good or service, the higher the profits = incentive to expand = increase in supply.
      • Shifts with a decrease or increase in supply.
    • Supply increases cost.


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