Business- Economics Supply curve
Business- Economics Supply curve 21027
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This 2 page Class Notes was uploaded by Katie Thedford on Sunday September 25, 2016. The Class Notes belongs to 21027 at Fort Lewis College taught by Kaori Takano in Fall 2016. Since its upload, it has received 6 views. For similar materials see Business in BA 110-5H at Fort Lewis College.
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Date Created: 09/25/16
Business- Economics Supply curve The supply curve is a graphical representation of the relationship between the price of a good or service and the quantity supplied for a given period of time. In a typical representation, the price will appear on the left vertical axis, the quantity supplied on the horizontal axis. Shifters of Short Run Aggregate Supply: (RIP) o Resources Changes in technology Changes In the number of producers o Input prices Changes in wages Changes in expectations o Productivity Changes in the price of substitutes and compliments Movement along curve: o “change in quantity supplied” movement of curve: o “change in supply” 2