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    Supply

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    The law of Supply states that as price rises, the quantity supplied rises. A Supply curve shows the relationship between price and quantity supplied. Market -day Supply is a market situation in which the quantity of a good supplied is fixed, regardless of price.

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    Supply

    Uploaded by

    api-181176018
    1K views10 pages
    The law of Supply states that as price rises, the quantity supplied rises. A Supply curve shows the relationship between price and quantity supplied. Market -day Supply is a market situation in which the quantity of a good supplied is fixed, regardless of price.

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    The law of Supply states that as price rises, the quantity supplied rises. A Supply curve shows the relationship between price and quantity supplied. Market -day Supply is a market situation in which the quantity of a good supplied is fixed, regardless of price.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1K views10 pages

    Supply

    Uploaded by

    api-181176018
    The law of Supply states that as price rises, the quantity supplied rises. A Supply curve shows the relationship between price and quantity supplied. Market -day Supply is a market situation in which the quantity of a good supplied is fixed, regardless of price.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    The Law of Supply

    As price rises, the quantity supplied rises, cet. par.

    Reasons for the Law of Supply?


    Monetary incentives The Law of Increasing Opportunity Costs

    What is a Supply Schedule?


    Shows the specific quantity of a good or service that suppliers are willing and able to provide at different prices

    1999 South-Western College 3 Publishing

    Price Quantity Supplied


    $5 0

    $6
    $7

    1
    2

    $8
    $9 $10

    3
    4 5
    4

    1999 South-Western College 4 Publishing

    What is a Supply Curve?


    Depicts the relationship between price and quantity supplied

    1999 South-Western College 5 Publishing

    P 2 P

    S
    Q1
    1999 South-Western College 6 Publishing

    1 Q2
    6

    What is Market -day Supply?


    A market situation in which the quantity of a good supplied is fixed, regardless of price

    1999 South-Western College 7 Publishing

    P 2 P

    1
    Q
    1999 South-Western College 8 Publishing 8

    What is a change in Supply?


    A change in the amount supplied of a good that is caused by factors other than a change in the price of that good

    1999 South-Western College 9 Publishing

    Shift in Supply

    S 1S2

    Q
    1999 South-Western College 1 Publishing 0

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