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How is Supply similar yet different from Demand? • You are motivated by profit (profit incentive) • You want customers to be happy (continue to shop) • You want to stay in business as long as possible • You want your employees (if large enough to hire) happy • You want to make as much money as possible Quantity Supplied Price in $ 2 2 4 4 6 6 8 8 10 10 12 12 $10 ea $5 ea OR ??? • Profit = Price - Cost Quantity Demanded Price in dollars 0 12 2 10 4 8 6 6 8 4 10 2 12 0 Makes sense too? Right? • Money not spent is money in my pocket or bank! Quantity Supplied Price in dollars 2 2 4 4 6 6 8 8 10 10 12 12 6 14 14 4 16 16 2 Law of Supply 16 14 12 10 8 0 2 4 6 8 10 12 14 • Yes, They’re like mirror opposites. • One goes upper left to • lower right • And the other goes lower • left to upper right. • Which is which? • I sense a new foldable coming on….. Oh brother • Chapter 5.5 Supply Shifters p 85-87 • More Economic Origami