Suppliers are willing to supply a product if what condition is met?

Suppliers are willing to supply a product primarily when the price they receive is at least equal to the additional cost of producing that product. This additional cost is referred to as the marginal cost, which represents the cost of producing one more unit of a product. If the price received meets or exceeds this marginal cost, suppliers can justify producing and supplying more of the good because they are able to cover their costs and potentially earn a profit.

When suppliers can cover the additional costs associated with production, they are incentivized to increase supply. This concept aligns with the basic principles of supply in economics, where sellers will increase production as long as they can earn a profit on each additional unit sold. Thus, the willingness to supply is closely tied to the relationship between market prices and production costs, specifically marginal costs.