Supply means ,A fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Quantity supplied is a change in price along the supply curve
reffers to the ammount of goods and services producers are able and willing to put on the market for sale at a given price in a given period of time
Quantity Supplied : The ammount of goods producers are willing to put on the market at a given price
A change in supply means that the supply curve has shifted. With a stable demand, this will result in a change in the quantity supplied but also a change in price. A change in only quantity supplied without a change in supply would require a horizontal supply curve. Alternatively a change in quantity supplied and price may occur if there is a shift of the demand curve.
An increase in quantity supplied is represented by demand.
When price rises, the quantity supplied rises; as price falls, the quantity supplied falls.
Excess supply.
why is the slope of supply an unsatifactory measure of the responsiveness in quantity supplied of a commodity to a change in its price
Excess supply.
A change in supply means that the supply curve has shifted. With a stable demand, this will result in a change in the quantity supplied but also a change in price. A change in only quantity supplied without a change in supply would require a horizontal supply curve. Alternatively a change in quantity supplied and price may occur if there is a shift of the demand curve.
An increase in quantity supplied is represented by demand.
When price rises, the quantity supplied rises; as price falls, the quantity supplied falls.
Excess supply.
why is the slope of supply an unsatifactory measure of the responsiveness in quantity supplied of a commodity to a change in its price
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
Elasticity of supply refers to the rate at which the amount supplied changes in response to the changes in price. The change in supply and quantity supply is a term that is used in economics to describe the amount of goods or services that are supplied at a given market price.
Assuming the market is perfectly competitive and there are no government imposed restriction, the quantity supplied will equal the quantity demanded, meaning the quantity demanded by buyers equals the quantity supplied by sellers.
It will be very sensitive to price change. A change in the price will change the quantity supplied by a factor greater than 1. ps: Price elasticity of supply= (% change in quantity supplied)/(% change in price)