Supply curve: Difference between revisions
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{{price-quantity curve}} | {{price-quantity curve}} | ||
==Definition== | |||
The '''supply curve''' for a good is defined with the following in the background: | |||
* The specific good. | |||
* A unit for measuring the quantity of that. | |||
* A unit for measuring price. | |||
* A convention on whether sales taxes are included in the stated price. | |||
* A certain set of economic actors who are the potential sellers of that good. | |||
* A time frame within which the supply is measured. | |||
* An economic backdrop that includes all the [[determinants of supply]] ''other than'' the unit price of that good. | |||
[[File:Concaveupsupplycurve.png]] | [[File:Concaveupsupplycurve.png]] | ||
Latest revision as of 19:07, 11 January 2014
This article is about a plot with unit price on the vertical axis, and a quantity (dependent upon the unit price) on the horizontal axis.
View other price-quantity curves
Definition
The supply curve for a good is defined with the following in the background:
- The specific good.
- A unit for measuring the quantity of that.
- A unit for measuring price.
- A convention on whether sales taxes are included in the stated price.
- A certain set of economic actors who are the potential sellers of that good.
- A time frame within which the supply is measured.
- An economic backdrop that includes all the determinants of supply other than the unit price of that good.
