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Supply is defined as the quantity of a good or service that producers are willing and able to supply at a given price in a given time period. An increase in supply means that producers are willing to produce more of a product at all price levels. It is represented by a rightward shift in the supply curve. An increase in supply can be caused by a range of factors such as a change in the price of factors of production, an increase in productivity and technological developments.
lydiajane74 answered the question on July 4, 2018 at 16:13
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