Expectations of the Supplier
Definition
Expectations of the Supplier refer to the anticipated future conditions that a supplier considers when making production decisions, such as changes in input prices or demand for their product.
Related terms
Production Costs: The expenses incurred by a firm in order to produce goods or services.
Supply Curve: A graphical representation showing the relationship between the quantity supplied and its corresponding price.
Profit Maximization: The goal of a firm to maximize its earnings by producing at an output level where marginal revenue equals marginal cost.
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