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Essay

Supply

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Issue:

Business

 

Written by:

Carolyn C

 

Date added:

September 22, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

9 / 2329

 

Was viewed:

3152 times

 

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Essay content:

in the town. In the spring the supply of housing tends to increase as more properties come onto the market. THE SUPPLY CURVE:- In most cases the more is supplied the higher the price. So supply curves slope upwards from left to right. Figure I 0. I shows a supply curve based on the supply schedule in Table 10...
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I. MOVEMENTS ALONG A SUPPLY CURVE:- Movements along the supply curve are referred to as extensions and contractions or as changes in the quantity supplied. Figure 10.2 shows an extension in supply. A rise in price from P to P causes an increase in the quantity supplied from Q to QL To supply larger quantities firms need higher prices in order to cover their higher costs...
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