Because the supply is seller’s demand.
“The supply curve is not based on some sort of “cost” that is independent of utility on individual value scales. The fundamental determinants of price are the value scales of all individuals (buyers and sellers) in the market and that the physical stock simply assumes its place on these scales.”
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- 13-8c1 Utilities are not quantities, but ranks—even in the case of the most divisible of goods, there will still be a difference in rank, not an equalization, between the two utilities
- 13-8d Speculative anticipations merely assist the market price toward equilibrium
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