Chapter 5 Supply

A family buys a half-gallon of orange juice at the supermarket. An author hires a graduate student to translate a book. A store sells a bicycle to a woman over the Internet.

Each of these exchanges involves a buyer and a seller. In this chapter you'll read about the “supply side” of the marketplace, where sellers decide how much to produce or supply. After reading the chapter, you'll better understand the factors that influence sellers' decisions on how much orange juice to produce, how many hours a week to work as a translator, or how many bicycles to export.

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