Supply (Dentists)
n The sellers in this market are dentists.
– dentists want to maximize their profits.
n What are profits and how can they be
maximized?
– Dentists earn money (revenue) by selling their
services e.g. by placing crowns, etc.
– Out of this revenue they need to pay for the
factors they use to produce the treatment (costs)
» e.g. pay their receptionist, pay the rent or pay for a
new x-ray processor. Profit is the excess of revenue
over costs.