Exchange Currency

supply curve

A graph showing the hypothetical supply of a product or service that would be available at different price points. The supply curve usually slopes upward, since higher prices give producers an incentive to supply more in the hope of making greater revenue. In the short run the price-supply tradeoff is greater than in the long run. In the short run, an increase in price will usually cause an increase in supply, but the leading producers can only manage a limited increase. However, in the longer term, new producers enter the market attracted by higher prices, and the supply at each price increases more significantly. In theory, in the most extreme cases, supply can be totally unreactive to price (special cases of very uncompetitive markets), or supply can be infinite at a particular price (e.g. a highly competitive market).

Related information about supply curve:
  1. Supply and demand - Wikipedia, the free encyclopedia
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  3. Economics Basics: Supply and Demand | Investopedia
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  7. The Supply Curve - Shmoop
    The Supply Curve overview by PhDs from Stanford, Harvard, Berkeley. In-depth review of The Supply Curve meaning with chart and explanations.
     
  8. The Supply Curve.wmv - YouTube
    Oct 25, 2011 ... An informal introduction to the concept of supply in economics and the supply curve. From the website www.economicsrevealed.co.uk - teacher ...