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  • SUPPLY PPT Math Business

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    Nguyễn Nhi
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    Supply is determined by the behavior of sellers and the quantity producers plan to bring to the market based on price. The supply function shows that as price rises, supply increases, represented by a positively sloped supply curve. Equilibrium in the market occurs at the point where supply and demand intersect, establishing the equilibrium price and quantity.

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    Supply is determined by the behavior of sellers and the quantity producers plan to bring to the market based on price. The supply function shows that as price rises, supply increases, represented by a positively sloped supply curve. Equilibrium in the market occurs at the point where supply and demand intersect, establishing the equilibrium price and quantity.

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    8 views2 pages

    SUPPLY PPT Math Business

    Uploaded by

    Nguyễn Nhi
    Supply is determined by the behavior of sellers and the quantity producers plan to bring to the market based on price. The supply function shows that as price rises, supply increases, represented by a positively sloped supply curve. Equilibrium in the market occurs at the point where supply and demand intersect, establishing the equilibrium price and quantity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Supply

    What (definition) :
    - Supply comes from the behavior of sellers
    - The supply function is the relation between the quantity (Q) of a good
    that producers plan to bring to the market and the price (P) of the good

    How :
    - It decides the price and the quantity : as the price rises, so does the
    supply
    - Represented graphically by a supply curve.
    - Equation : P=aQ+b
    (slope a>0, intercept b>0)

    Note : When the market price = b, the supply is 0

    What for (applications) :


    - In microeconomics we are concerned with the interaction of supply and
    demand
    - Of particular significance is the point of intersection. At this point the
    market is in equilibrium
    - The corresponding price (P0) and quantity (Q0) are called the
    equilibrium price and quantity
    Examples :

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