Tag: Supply

In the long‐run, firms can vary all of their input factors. The ability to vary the amount of input factors Read more…

In determining how much output to supply, the firm’s objective is to maximize profits subject to two constraints: the consumers’ Read more…

In addition to understanding how equilibrium prices and quantities change as demand and supply change, economists are also interested in Read more…

Economics-Supply

The buyers’ demand for goods is not the only factor determining market prices and quantities. The sellers’ supply of goods also plays Read more…