The cheaper something is to produce, the more of it one can produce and hence the greater the supply. This only affects the price if there are competitors. If

The cheaper something is to produce, the more of it one can produce and hence the greater the supply. This only affects the price if there are competitors. If I want a widget, the total supply of widgets is irrelevant. For example Insulin, the fact that you have tons more of it won't make the price go down, you have it and I need it. You can sell it for whatever I am willing to pay irrespective of supply or production costs.