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    Most Critical Element when Considering Determinants of Supply

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    Base on your discussion, what is the most critical element(determinant) when considering the determinants of supply? In other words, what determinant has the greatest influence on the economy?

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    generally speak, supply is influenced by the following factors

    -price (the higher the price, the greater incentive to supply)
    -cost of input (labor, raw material, energy, etc.)
    -price of related goods (such as substitutes)
    -government ...

    Solution Summary

    The most critical elements when considering determinants of supply.