The aggregate supply curve is positively sloped because at a higher price level, producers are more willing to supply more real output.
Good day, I would like to know the relevance of OFFER CURVE to applied microeconomics.
The supply curve during the market period is perfectly inelastic and vertical. This shows that the supply cannot be increased in the short run.
The shape of the long run supply curve in perfect competition is determined by factors such as technology, input prices, and economies of scale. These factors influence the ability of firms to produce goods efficiently and at different levels of output, which in turn affects the overall shape of the supply curve.
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
what will be the shape of indifference curve if one of the two goods is a free commodity
Good day, I would like to know the relevance of OFFER CURVE to applied microeconomics.
The supply curve during the market period is perfectly inelastic and vertical. This shows that the supply cannot be increased in the short run.
The shape of the long run supply curve in perfect competition is determined by factors such as technology, input prices, and economies of scale. These factors influence the ability of firms to produce goods efficiently and at different levels of output, which in turn affects the overall shape of the supply curve.
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
A Cooling curve graph changes shape.
what will be the shape of indifference curve if one of the two goods is a free commodity
Abnormal supply curves are typically caused by factors that disrupt the usual relationship between price and quantity supplied. These factors can include sudden changes in input costs, such as unexpected increases in raw material prices or disruptions in the supply chain. Other causes may include government regulations, technological advancements, or natural disasters that impact the production process and alter the supply curve's shape and slope. Overall, abnormal supply curves reflect temporary or long-term shifts in supply conditions that deviate from the standard supply curve model.
i believe it's called 'curve' because of the shape, it's curved ...
my name is sheela sheela ki jawani
A term used to refer to a particular ear set in llamas where the ears come up and curve inwards similar to the shape and size of a banana
an ellipse
the shape of the curve skewed is "right"