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Supply
The various amounts of a good or service that producers or owners of the means of production are willing and able to make available for sale at alternative prices for a given period of time.
The law of supply holds that if the factors affecting supply, apart from the price of the good or service in question, don't change (ceteris paribus), as the price of that good or service increases, the producers or owners of the means of production will be induced to supply more.
Figure 1Law of Supply
Figure 1 depicts the law of supply, which indicates that the quantity of a good or service supplied will increase as the price increases when other factors or variables remain unchanged. This positive correlation is contingent on other factors, ...