isaiahperez22599 isaiahperez22599
  • 22-05-2017
  • History
contestada

As a producer, you are willing to supply the most goods at the highest price. This is because the highest price earns you the _____.

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agentaustin
agentaustin agentaustin
  • 22-05-2017
the highest price earns you the most profit 
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palebadgworthy
palebadgworthy palebadgworthy
  • 05-04-2019

The correct answer is: "the maximum profit".

A supply function represents the quantity of a certain good or service that producers are willing to supply at different prices level. The law of supply states that there is a direct relationship between price and quantity supplied (ceteris paribus).

Higher market prices would encourage producers to manufacture and sell a larger total output, attempting to maximize their profits.

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