Why does the entrepreneur increase or decrease supply in response to price increases or decreases?
2 answers
Question:
Why does the entrepreneur increase or decrease supply in response to price increases or decreases?
Answers
Answer:MoneyExplanation:If the price of a product increases, an entrepreneur might increase supply because the product has a high demand. In order to make more money he/she will ramp up supply so said product will more available to consumers. On the contrary, if a product price decreases, the entrepreneur might decrease supply because the product has low demand. To save money, he/she might lower supply so he/she doesn’t spend a ton of money on a product that’s not a lot of people want to buy.
Moneyyyy is the answer $$
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