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Logan Sedelmaier Scarse- something that is non readily available to everyone who wants to buy it. Scarse pay for not Scarse Dont pay for SAT tutoringSea Water Mp3 of wench GagaNuclear Waste What are the types of resources? -resource: anything used to make something else. undercoat innate(p) resources Labor- time of workers Capital- cash SUPPLY The Law of Supply Supply- the come of goods available Law of Supply- the higher(prenominal)(prenominal) the scathe, the larger the quantity bugger offd. bar Supplied-term used to describe how oft of a good is offered for sales events agreement at a unique(predicate) damage. The law of supply develops from the choices of both genuine and new producers of a good As hurt of a good rises, existing firms lead produce to a greater extent in give to put on inordinateness revenue If the price of a good falls, some firms forget produce less(prenominal), and others might drop out of the market These devil mov ements combine to micturate the law of supply Higher mathematical product If a firm is already earning a profit by selling a good, then an affix in the price - all other things remaining relate - will join on the firms profits. The promise of higher revenues for each sale encourages the firm to produce more fount: if the price of pizza pie rises, but the firms cost of do pizza stays the same, then it will earn more profit. Example: if the price of pizza goes down, the pizzeria will earn less profit per slice or lose money The seem for profit drives a suppliers decisions The Supply memorandum connatural to a demand enumeration, a supply schedule shows the human relationship between price and quantity supplied for a specific good. outlay of a slice| Slices supplied / day| $0.50| blow| $1.00| 150| $1.50| cc| $2.00| 250| $2.50| 300| $3.00| 350| Shows how the price of pizza, and only the price of pizza, affects the pizzerias takings All of the other factors that could reposition the! restaurants output decisions, such as the cost of tomato sauce,...If you want to break a full essay, order it on our website: OrderCustomPaper.com

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