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7 August, 14:27

What two conditions must producers meet for there to be supply of a product?

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  1. 7 August, 17:25
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    Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices. The two conditions that must be met in order there to be supply of a product are:

    1. Buyers must be willing for it

    2. Buyers must be able to pay for

    The Law of supply states that as the price of a good or service increases, the quantity supplied increases, and vice versa.
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