The motion that neurosurgeons are better with nerve while orthopedist is better with bone does not apply anymore. Orthopedic spine surgeons learned how to handle nerves and neurosurgeons specializing in spine learned how to handle drill and screw driver. There is another reason for picking specialist over generalist.
Why does quantity supplied increase when price increases? A: The quantity of a particular good supplied in a market increases as price goes up because suppliers have an increased interest in producing goods to generate higher amounts of revenue. This is a basic principle of the law of supply and demand. Continue Reading.
There are two types of price elasticity: price elasticity of supply and price elasticity of demand. The price elasticity of supply measures the responsiveness to the supply of a good or service after a change in its market price. According to basic economic theory, the supply of a good increases when its price rises. Conversely, the supply of a good decreases when its price decreases. Price elasticity of supply measures the percentage change in supply divided by the percentage change in price.