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What Is a Supply Curve? The supply curve illustrates the correlation between the cost of a product or service and the quantity of it that is available.
supply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
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The supply curve is a graphical representation of the quantity of goods or services that a supplier willingly offers at any given price. This represents how supply works. Let’s break down the supply curve to better understand it.
Define the quantity supplied of a good or service and illustrate it using a supply schedule and a supply curve. Distinguish between the following pairs of concepts: supply and quantity supplied, supply schedule and supply curve, movement along and shift in a supply curve.
The supply curve considers the relationship between the price and available supply of an item from the producer's perspective rather than the consumer's....
The law of supply in economics states that as the price of a good or service increases, the quantity of goods or services increases, and vice versa. Learn more.