--%>
Assignment Help - homework help

Law of Supply

Law of Supply:

Supply means the goods provided for sale at a price throughout a particular period of time. This is the capacity and intention of the producers to generate goods and services for sale at a particular price.

The supply of a commodity at a specified price might be stated as the amount of it that is actually provided for sale per unit of time at that cost.

The law of supply creates a direct relationship among price and supply. Organizations will supply less at lower prices and more at higher costs. “Other things enduring similar, as the price of commodity mounts, its supply expands and as the price cascade, its supply contracts”.

   Related Questions in Microeconomics

  • Q : Contribution Standard The concept that

    The concept that people must have income in proportion to their productivity is termed as the: (1) equality standard of distribution. (2) productivity standard of distribution. (3) needs standard of distribution. (4) utility standard

    		•
  • Q : Prices of output and economic profit in

    for a purely-competitive decreasing-cost industry in a short run equilibrium in that typical firms temporarily produce economic profits, and the average total costs a typical firm incurs are positively associated to t

    		•
  • Q : Interest Rate by Holding a Bond When

    When you hold a bond if the interest rate rises, you will: (w) have less money when you sell it. (x) receive more interest income. (y) gain by shifting funds to the stock market. (z) eventually spend more and save more.

    Q : Constant price elasticity plausible for

    Constant price elasticity equivalent to one for socket sets would be mainly plausible for demand curve as: (1) D1D1. (2) D2D2.  (3) D3D3. (4) D4D4. (5) D

    		•
  • Q : Prices and outputs in the short run All

    All output markets which are less than purely competitive are characterized through: (1) domination of the market by some large firms. (2) individual firms that are very small to affect their prices. (3) freedom of entry and exit in the long run. (4)

    		•
  • Q : Purpose of shortages of price in price

    Price ceilings tend to purpose of: (a) opportunity costs to decline. (b) monetary prices to rise legally. (c) shortages of price controlled goods. (d) black markets to disappear. (e) surpluses of goods at inflated prices.

    Q : For the firm For the firm, the major

    For the firm, the major goal of profit sharing plans is to: force workers to incur some of the business risk. overcome the monopsony problem of having to pay higher wages to attract additional workers. overcome the principal-agent problem by better aligning the workers' interests with

    		•
  • Q : Effect of economic prosperity on demand

    Precisely predicting the effect of economic prosperity upon the demand for mass transit would be excellent facilitated by a good calculates approximately of the: (w) slope of the demand curve for mass transit. (x) price elasticity of

    		•
  • Q : Elastic and Inelastic demand An

    An increase in the price of goods, outcomes in an increase in expenses on it. This demand is elastic or inelastic? Answer: Inelastic since there is direct relation

    		•
  • Q : Coefficient of elasticity of relatively

    Please help me to solve the problem that is given below: A relatively price elastic demand curve would consist of a coefficient of elasticity of as: (w) ep = 1. (x) ep > 1. (y) ep < 1. (z) ep

    		•