Supply curve

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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.

Concaveupsupplycurve.png