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Unformatted text preview: Figure 4-6 M ARKET S UPPLY AS THE S UM OF I NDIVIDUAL S UPPLIES . The market supply curve is found by adding horizontally the individual supply curves. At a price of $2, Ben supplies 3 ice-cream cones, and Jerry supplies 4 ice-cream cones. The quantity supplied in the market at this price is 7 cones. Table 4-6 T HE D ETERMINANTS OF Q UANTITY S UPPLIED . This table lists the variables that can influence the quantity supplied in a market. Notice the special role that price plays: A change in the price represents a movement along the supply curve, whereas a change in one of the other variables shifts the supply curve. V ARIABLES T HAT A FFECT Q UANTITY S UPPLIED A C HANGE IN T HIS V ARIABLE . . . Price Represents a movement along the supply curve Input prices Shifts the supply curve Technology Shifts the supply curve Expectations Shifts the supply curve Number of sellers Shifts the supply curve...
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- Spring '10