Supply dood

The law of supply follows a curve that is exactly opposite of the demand curve. So it like basically says that like the higher the price, the more of a product that the suppliers are willing to supply. The law os supply can also be described as a change in supply at each and every price. The law of supply depends on price fluctuations that can be caused by changes in cost of inputs, productivity, technology, taxes and subsidies, expectations, government regulations, and number of sellers. The supply curve, much like the demand curve can shift inwards and outwards based on changes in each of these. Additionally, just as the demand can have both elasticity and inelasticity, supply can as well. An example of elastic supply is how tshirt companies are making tshirts for both teams in the world series, expecting a win, yet they will still be able to make more to follow consumers demand (depending on which team wins) within a short period of time. In contrast, an example of inelastic supply can be the current situation we are facing because the destruction of pumpkins on the east coast will not be able to supply enough pumpkins for halloween, and the price has increased. The price of a product can dramatically change the suppliers willingness to provide their product for stores, depending on their profit. For instance, if most t-shirts are selling for 5 dollars, few suppliers will be motivated to provide their product at such a low price; furthermore, if tshirts were selling at 15 dollars, the suppliers profit margin would increase, and they will be willing to provide a lot more tshirts to stores in hope of making a larger profit.