It states that at higher commodity prices, more of a product is produced and offered in the market, the lower the price, the lower the quantity supplied. This is a direct or positive relationship since producers are profit maximizers.
FYBMS, SYBMS, TYBMS and beyond BMS
It states that at higher commodity prices, more of a product is produced and offered in the market, the lower the price, the lower the quantity supplied. This is a direct or positive relationship since producers are profit maximizers.
0 Comments