What is Supply schedule
What is Supply schedule and how it is related to supply curve?
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Supply schedule: The supply schedule is a table exhibiting the relationship among the price of a good and the quantity a producer is willing and capable to supply. The supply curve is the upward-sloping line associating price and quantity supplied. The supply schedule and the supply curve are associated since the supply curve is just a graph exhibiting the points in the supply schedule.
The supply curve slopes upward since if the price is high, supplier’s profits rise, therefore they supply maximum output to the market. The outcome is the law of supply—other things equivalent, whenever the price of good increases, the quantity supplied of the good too rises.
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Elucidate the concept of deflationary gap. Answer: Deflationary gap is the deficit in aggregate demand from the level needed to maintain full employment equilibrium
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A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Discover Q & A Leading Solution Library Avail More Than 1424898 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1949017 Asked 3,689 Active Tutors 1424898 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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