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23 November, 09:55

When the price of a good rises, total supply in the market will rise, but some entrepreneurs might actually choose to work less. Why might they make this choice?

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  1. 23 November, 12:51
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    Answer: Lack of resources

    Explanation: Some entrepreneurs might actually choose to work less even when the prices of the goods rises because there might be lack of resources or restrictions on production beyond a certain level.

    These individuals will earn the profit they were getting before with less time of production and work, thus, their targets will be met early therefore they will work less.
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