It indicates that the availability of a certain product has changed. In economic terms, a change in the quantity supplied would correspond to movement along the supply curve.
For example, if the amount of widgets (any given product) in a market increases, the demand and price for that product decreases. If the number of widgets were to decrease, the demand and price would increase.
a change in quantity supplied is the result of
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 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)
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.
a change in quantity supplied is the result of
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).
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)
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.
This is called equilibrium.
There is no different in changes in supplies and changes in quantity supplied as both are different interchangable name of same item.
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).
An increase in quantity supplied is represented by demand.
The quantity supplied the house for forty years.