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Supply Supply is relationship that shows the various quantities of a good that sellers are willing and able to sell at different prices.

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Presentation on theme: "Supply Supply is relationship that shows the various quantities of a good that sellers are willing and able to sell at different prices."— Presentation transcript:

1 Supply Supply is relationship that shows the various quantities of a good that sellers are willing and able to sell at different prices.

2 Supply of Good Z Price Quantity Supplied $

3 Supply Curve for Good Z Price 6 S 5 4 3 2 1 10 20 30 Quantity Supplied

4 Price and quantity supplied are directly related.
Law of Supply Price and quantity supplied are directly related.

5 Determinants of Supply
Number of Sellers Prices of Resources Technology Prices of Other Goods Random Events Expectations Subsidies and Taxes

6 Change in Quantity Supplied
Price 6 S 5 B 4 A 3 2 1 10 15 20 30 Quantity Supplied

7 Change in Supply Curve (Increase)
Price 6 S1 S2 5 4 3 2 1 10 20 30 Quantity Supplied

8 Change in Supply Curve (Decrease)
Price S2 6 S1 5 4 3 2 1 10 20 30 Quantity Supplied

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