How profit motive explain the law of supply?

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02-02-2017
Business

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How profit motive explain the law of supply?

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ddd21 ddd21 · Answer 1 · 2017-02-11T01:23:49+01:00

ddd21 ddd21

11-02-2017

Profit motive produces what people want to get as much profit as possible, thus the demand of the product will rise so the price will rise to regain equilibrium (so demand will decrese) so the supply increases with the price. Hope I helped

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