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Law of supply - Producers are willing to sell more or something at a higher price. When costs go up, profits go down, so that the willingness to supply also goes down. Technology and labor productivity reduce the number of inputs needed to produce a given supply of goods.
Law of supply - Producers are willing to sell more or something at a higher price. When costs go up, profits go down, so that the willingness to supply also goes down. Technology and labor p…