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ECON 1BB3 (332)
Chapter 4

lecture 7 ~ chapter 4.docx
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Department
Economics
Course
ECON 1BB3
Professor
Hannah Holmes
Semester
Fall

Description
What will happen to Wal-mart’s everyday low prices if their workers unionized?  their cost of production goes up, passed on to people like you and I perspective from the producer or the firm Supply  Quantity supplied (Q^s): the amount of a good that sellers are willing & able to sell  how much youre able to supply given your current conditions  The variables that influence how much sellers want to sell are: o Price (if price changes what does the firm want to do to the quantity that its producing and selling) [price determined in the market as a whole, not by firms; their decision is, give that price, how much do I want to sell] (price goes up, for every unit I produce higher proft; price goes down, produce less[units less profitable])
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