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Unformatted text preview: change in the quality of a house.
A different type of a good is a perishable
good, such as eggs. If the egg seller believes
that the future price will be higher than the
current price of eggs, he may want to hold
his eggs off the market today and sell them
later. He can’t really do that, though, because
eggs spoil if kept too long.
EXAMPLE: Weather (in Some Cases)
Weather can affect the supply of a good.
Bad weather reduces the supply of many
agricultural goods, such as corn, wheat, and
barley. Unusually good weather can increase
the supply. Weather can also impact the supply of non-agricultural products, as happens
when hurricanes damage fishing boats, shipping docks, and coastal oil refineries. 05 (110-127) EMC Chap 05 11/17/05 4:51 PM Page 121 What Factor Causes a
Change in Quantity
Supplied? Supply Goes Up,
or Down? We identified the factors (resource prices,
technology, etc.) that can cause supply to
change. As we stated earlier, a change in supply is represented as a shift in the supply
curve. The curv...
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This document was uploaded on 01/16/2014.
- Winter '14