We are going to spend another week on the supply side: what you would produce if you were the President of a company. Recall that microeconomics is about supply and demand. When we are on the demand side, then we are discussing what you would buy as a consumer, and how much you would pay. When we are on the supply side, we are considering what you would produce in managing a company. Keep these concepts separate in your mind. | We are going to spend another week on the supply side: what you would produce if you were the President of a company. Recall that microeconomics is about supply and demand. When we are on the demand side, then we are discussing what you would buy as a consumer, and how much you would pay. When we are on the supply side, we are considering what you would produce in managing a company. Keep these concepts separate in your mind. |