Edward Millner's blog. It contains links to articles for students taking Principles of Microeconomics and Managerial Economics. It also contains links to articles about politics. The opinions here are mine. No one at VCU reviews or approves what I post.
Friday, March 5, 2021
How do producers respond to higher prices?
Farmers are planting more row crops in response to higher prices. (WSJ, March 2020) The reaction illustrates that the quantity supplied increases when price increases, all else constant.
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