The Supply Curve

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    The Supply Curve

    • The supply curve is a representation between the price of a product and the quantity that is supplied
    • Price is on the y axis, quantity supplied is on the x.

     

    • The data for which a supply curve is derives is taken from a supply schedule
    • This is a data set which shows how much of a product is likely to be supplied over a range of prices

    Obtaining this data is easier than for a demand schedule, as

    • Here we have assumed that there is only one supplier of self-catering holidays to Ibiza in June
      • In other words, the supply curve is also the market supply curve
    • If there is more than one supplier, the market supply curve is the sum of the individual supply curves of all producers.

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