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Which of the following best explain the purpose of a supply curve?
Wiki User
∙ 12y ago
A supply curve was developed to show how much of something can be made at a certain price.
If you want to sell lemonade you cannot simply make lemonade and stand outside selling it for a quarter. You need to calculate costs (water, sugar, lemons, glasses, pitcher, labor, profit). The curve exists because different suppliers have different numbers. Some have lower or higher labor costs, affecting costs. Others have higher or lower expectations for profit.
The higher the price, the more people there will be willing to provide that good or service.
The supply curve is used together with the demand curve to find equilibrium, or the price where the most people (buyers and sellers) will be satisfied.
Wiki User
∙ 12y ago
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Explain what happens when the demand curve intersects with the supply curve?
explain what happens inside curve sample
What best explains the purpose of a supply curve?
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
What best explains the purpose of supply curve?
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
Which of the following best explains the purpose of a supply curve?
to graph the realationship between quanity supplied and price charged (apex)
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
Explain what happens when the demand curve intersects with the supply curve?
explain what happens inside curve sample
What best explains the purpose of a supply curve?
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
What best explains the purpose of supply curve?
The purpose of a supply curve is to graph the relationship between quantity supplied and price charged.
Which of the following best explains the purpose of a supply curve?
to graph the realationship between quanity supplied and price charged (apex)
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
For a given increase in supply the slope of both demand curve and supply curve affect the change in equilibrium quantity Is this statement true or false Explain with diagrams?
Which of the following is shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
Which of the following is a determinant of market supply curve but not a determinant of an individual seller's supply?
number of sellers
What is difference between individual supply curve and market supply curve?
The difference between individual supply curve and the market supply curve is tat individual supply curve is like a firm. To be able to get the market supply curve you have to have the individual supply curve.
How is a market supply curve similar to and different from an individual supply curve?
how is a market supply curve similar to and diffrent from an individual supply curve
Explain why the MC curve can be considered to be the individual firm's supply curve under conditions of Perfect Competition can the whole length of MC be considered the supply curve Whywhy not?
if the MC=Price, the firm got the maximum profit. that's what they want.
Which the following most accurately describes how the equilibrium prices of a good or service can be determined?
By finding where the supply curve and the demand curve intersect.
Which of the following most accurately describes how the equilibrium price of a good or service can be determinedAsk us anything?
By finding where the supply curve and the demand curve intersect
