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1.2.3 supply, shutterstock_46431904, 30212411048_2a1d7200e2_z-1, cbae0c68…
1.2.3 supply
JOINT SUPPLY
Where the production of one good causes the production of another.
Eg the production of beef is likely to increase the production of leather
SUPPLY = the ability and willingness to supply a good or service at a given price level at a point in time
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Price of fountain pens increases due to a fall in supply.
This makes ball point pens a cheaper alternative. This causes Demand to shift outwards for ball pens.
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