Factors:
- Cost of production (factor prices)
- Government policy (taxation and subsidies)
- Natural events (e.g weather)
- Goals of the firm
- Availability and cost of credit
- Transport and communication
- Prices of related products (substitutes and complements)
- Technology
- Future expectations
- Changes in the supply of the product with which the product in question is in joint supply e.g Hides & Beef; petrol and paraffin.
- Time
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