In general, producers are willing to sell their product for a price as long as that price is at least as high as [...]
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the cost to produce an additional unit of the product.
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Open it In general, producers are willing to sell their product for a price as long as that price is at least as high as the cost to produce an additional unit of the product.
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3.3. The Supply Function and the Supply Curve The willingness and ability to sell a good or service is called supply. In general, producers are willing to sell their product for a price as long as that price is at least as high as the cost to produce an additional unit of the product. It follows that the willingness to supply, called the supply function , depends on the price at which the good can be sold as well as the cost of production for an additional unit of t
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