Supply - Supply The Supply Curve: The Relationship between...

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Supply The Supply Curve: The Relationship between Price and Quantity Supplied Quality supplied The amount of a good that sellers are willing and able to sell Demand higher then the quality supplied is high When demand low than quality supplied is low this relationship is know as the Law of Supply law of supply the claim that other things equal, the quantity of supplied of a good rises when the price of the good rises supply schedule a table that shows the relationship between the price of a good and the quantity supplied price rises supply more as price decrease doesn’t supply holding constant that everything else that influences how producers of the good want to sell supply curve the curve relating to the price and quantity supplies a graph of the relationship between the price of a good and the quantity supplied Market Supply vs. Individual Supply Demand=sum of the demands of all buyers market supply is the sum of the supplies of the sellers sum of two individual supplies (as demand) sum the individual supply curves horizontally to obtain the market supply curve TO find the total quantity supplied Add the individual quantites Which are found on the horizontal axis
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Market supply curve shows: How the total quantity supplied varies as the price of the good varies
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This note was uploaded on 11/09/2011 for the course ECON-E 201 taught by Professor Olson during the Spring '10 term at Indiana.

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Supply - Supply The Supply Curve: The Relationship between...

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