When ________, a typical firm will supply a higher quantity at any given price for its output, and the supply curve will shift t

Question

SOVA2 [1]

1 year ago

6

When ________, a typical firm will supply a higher quantity at any given price for its output, and the supply curve will shift t

o the right.

Business

1 answer:

Inga [223] · Answer 1 · 2023-07-17T06:57:35+03:00

When costs of production fall, a typical firm will supply a higher quantity at any given price for its output, and the supply curve will shift to the right.

This is further explained below.

<h3>What is costs of production?</h3>

Generally, The price concept of value is a theory developed in the field of economics.

This theory proposes that the price of an item or condition is decided by the total cost of the assets that were used to produce it.

In conclusion, When manufacturing costs go down, normal businesses will respond by increasing the amount of output they offer for sale at any given price, which will cause the supply curve to move to the right.