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Title: business

Essay Details:

Subject: English

Author: Derrick H

Date: January 23, 2013

Level: University

Grade: A

Length: 3 / 644

Essay text:

The supply curve for a product is an imaginary line at a point in time that tells us the quantities a supplier would provide at various prices of the product. The supply curve cannot be accessed by the decision maker. For any supplier, a higher price is an incentive to supply more, other things remaining constant. Therefore, as the rental rate increases, the number of apartments that Goodlife is willing to lease increases. This could be because the production cost, or in the case of Goodlife, the maintenance cost, increases for each additional unit of the product. This increasing maintenance cost means that each additional unit of the product would be supplied as a higher price...

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