Supply - good X is given in Table 1 , and the corresponding...

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Supply The buyers' demand for goods is not the only factor determining market prices and quantities. The  sellers'  supply  of goods also plays a role in determining market prices and quantities. Like the  buyers' demand, the sellers' supply can be represented in three different ways: by a  supply  schedule , by a  supply curve , and  algebraically . An example of a supply schedule for a certain 
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Unformatted text preview: good X is given in Table 1 , and the corresponding supply curve is drawn in Figure 1 . Note that as the price of good X increases , the quantity supplied of good X increases . This kind of behavior on the part of sellers is in accordance with the law of supply . Figure 1 Supply curve for good X...
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This note was uploaded on 11/18/2011 for the course ECO 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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Supply - good X is given in Table 1 , and the corresponding...

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