Microeconomics,, 16th Canadian Edition

(Sean Pound) #1
Government taxes or subsidies
Prices of other products
Significant changes in weather
Number of suppliers

The situation with supply is the same as that with demand: There are
several influencing variables, and we will not get far if we try to discover
what happens when they all change at the same time. Again, we use the
convenient ceteris paribus assumption to study the influence of the
variables one at a time.

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