Econ 2

2. b. communicate (SI) Just same(p) demand, there ar factors that view the bill of a good or service deal outers be free to post for sale. Price is one factor, entirely another(prenominal) things unchanged. A high wrong is likely to induce a seller to offer a greater quantity of a good or service. Production cost is another determinant, as well as the number of sellers in the market. Also like demand, there be specific terms used when talking about give birth and the following provides an outline along with examples of the terms. metre Supplied The quantity sellers are leave behinding to sell at a peculiar(a) expense during a token period, totally other things unchanged. apply movie tatters as an example, a movie theater is voluntary to sell 100,000 tickets at $8. At a price of $4, they are only ordain to part with 75,000 tickets. Conversely, at a price of $12, they will sell 125,000 tickets. The quantity supplied is gr eatest at the price of $12 per ticket and lowest at the price of $4 per ticket. Supply register A table that shows quantities supplied at several(predicate) prices during a particular period, all other things unchanged. foreshadow 2b-1 gives a add schedule for the quantities of hot chocolate berry that will be supplied per month at various prices.

At a price of $4 per pound, producers are willing to supply 15 million pounds of coffee per month. A high price of $6 per pound induces sellers to supply a greater quantity at 25 million pounds of coffee per month. [pic] Figure 2b-1 The supply schedule shows the quantity of coffee that will supplied in the United States each month at particular p! rices, all other things unchanged. The same information is given diagrammatically in the supply curve. The values here suggest a cocksure birth between price and quantity supplied. Supply curve A graphical representation of a supply schedule. It shows the relationship between price and quantity supplied during a particular period, all other things...If you want to get a full essay, disposition it on our website: OrderEssay.net

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