supply curve

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what is a supply curve? Supply curve shows the amount of goods or services suppliers will be willing and able to sell at a particular time at a particular price, ceteris parabus
why is the supply curve upward sloping? The supply curve is upward sloping because people would be willing to sell a greater quality of goods if the price of the goods rises, all else being equal
what causes shifts in the supply curve? Changes in cost of production, and increase in the number of producers, a change in tax rates, and state of production technology
A supply curve is directly affected by _____ A supply curve is directly affected by technology, input costs, and government regulation
What will an increase in price of normal goods do to their supply curve? The supply curve will not shift
The law of supply indicates that the producers will offer more of a product at high prices than they will at low prices
The supply curve shows the relationship between price and quantity supplied
what will an improvement in production technology do? It will shift the supply curve to the right
Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates that the amount of oranges that will be available at various prices has declined
what does the location of the supply curve depend on? the technology used to produce it, the number of sellers in the market, and the prices of resources used in its production
If producers must obtain higher prices than previously to produce various levels of output, what must happen a decrease in supply
Suppose product X is an input in the production of product Y. Product Y in turn is a substitute for product increase the demand for Z
Other things equal, if the price of a key resource used to produce product X falls, the product supply curve of X will shift to the right
An increase in the excise tax on cigarettes raises the price of cigarettes by shifting the supply curve for cigarettes leftward
A government subsidy to the producers of a product increases product supply

what is a supply curve?

why is the supply curve upward sloping?

what causes shifts in the supply curve?

A supply curve is directly affected by _____

What will an increase in price of normal goods do to their supply curve?

The law of supply indicates that

The supply curve shows the relationship between

what will an improvement in production technology do?

Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates that

what does the location of the supply curve depend on?

If producers must obtain higher prices than previously to produce various levels of output, what must happen

Suppose product X is an input in the production of product Y. Product Y in turn is a substitute for product

Other things equal, if the price of a key resource used to produce product X falls, the product supply curve of X will shift to the

An increase in the excise tax on cigarettes raises the price of cigarettes by shifting the

A government subsidy to the producers of a product increases product

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