1.- How does an entrepreneur decide whether to supply a good? Will entrepreneurs continue to supply...
1.- How does an entrepreneur decide whether to supply a good? Will entrepreneurs continue to supply a good or service if consumers are unwilling to pay a price sufficient to cover the per-unit cost? 2. Incentives matter. Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value highly relative to price and less likely to undertake the government-sponsored projects in which the per-unit cost of production is above the price consumers willingly pay.
Homework Answers
1) :- they will check the market and see weather there is demand Or not
Now a days it is easy And critical too to get feedback of customer:- question are like
Do you want this product
Would u pay for this item etc
Based on this feedback, an entrepreneur will assess weather there is chance to sell the item
They always try to sell their products in such market which are favourable for good and also they got profit on each sell.
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1.- How does an entrepreneur decide whether to supply a good?
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