Question

In: Economics

Plot the supply curve from the supply schedule information provided. (a) What can you explain from...

Plot the supply curve from the supply schedule information provided.

(a) What can you explain from the graph?

(b) Can you identify any determinants?

(c) What happens if price changes?

(d) What happens if other determinants change?

Solutions

Expert Solution

ANSWER :-

1). The supply curve shows the connection among cost and supply

●It adheres to the law of supply which says that on the off chance that different things are held consistent.

●At that point in the event that cost builds, at that point amount provided will likewise increment and the other way around.

2). Some of the determinants that causes the progressions supply curve are

•  Desire level of dealers

• Assessments and endowments

• Presence of new innovation in the market

3). In the event that price changes at that point then there will be changed in the amount supply not the supply and it is appeared by the development on the supply curve.

4). If other than thr price factors are inclu

ded that are additionally called determinants then this will cause the move of supply curve is the correct wards or left wards.

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Rahul Sunny answered 2 years ago
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