When the selling price of a good goes up, what is the relationship to the quantity supplied? the cost of production goes down. the profit made on each item goes down. it becomes practical to produce more goods. there is no relationship between the two.?

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Business

Georgia Russo

25 February, 01:27

When the selling price of a good goes up, what is the relationship to the quantity supplied? the cost of production goes down. the profit made on each item goes down. it becomes practical to produce more goods. there is no relationship between the two.?

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Jaylan Solis · Answer 1

When there is an increase in the selling price of an item or product it affects the relationship of the quality supply and the cost of production goes down. In this circumstances that the cost of production is low, order to control the supply in the market the businessman increase the selling price of a product if it is in demand in the market.