ECN211 L5 Supply_BB

ECN211 L5 Supply_BB - ECN 211 Macroeconomic Principles L5:...

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1 ECN 211 Macroeconomic Principles L5: Supply and Equilibrium
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2 Supply Supply … the amount of a good or service that producers are willing to and able to offer for sale at each possible price during a period of time, everything else held constant Quantity Supplied … the amount that sellers are willing to offer at a given price during a particular period of time, everything else being constant
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3 Supply Schedule Price per DVD Quantity supplied per week $10 100 $8 80 $6 60 $4 40
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4 Supply $ Q P 1 Q s
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5 Individual Supply to Market Supply Price per  DVD Warehouse  QS Blockbuster  QS Dodgy  Joe’s QS Market  QS $10 50 100 5 155 $8 40 90 4 134 $6 30 80 3 113 $4 20 70 2 92
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Determinants of Supply Things we hold constant when constructing a supply curve. 1. Price Profitability of other products that could be produced 2. Resource/Input Prices – cost of doing business 3. Expectations- are companies pessimistic or optimistic? 4.
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This note was uploaded on 09/19/2011 for the course ECN 211 taught by Professor Kingston during the Fall '08 term at ASU.

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ECN211 L5 Supply_BB - ECN 211 Macroeconomic Principles L5:...

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