What is a supply curve set at a given quantity?
supply curve. Graphic representation of how much product the supplier is willing to supply at various prices. input cost.
What is a fixed supply curve?
A supply curve is usually upward-sloping, reflecting the willingness of producers to sell more of the commodity they produce in a market with higher prices. Any change in non-price factors would cause a shift in the supply curve, whereas changes in the price of the commodity can be traced along a fixed supply curve.
What does the supply curve show?
Supply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
What would cause a leftward shift in the supply curve for car washes?
Which would cause a leftward shift in the supply curve for car washes? The presence of ticket scalpers in popular events like concerts will hurt consumers who buy from the scalpers. If the supply of a product decreases and demand increases, the equilibrium price and quantity will both definitely increase.
Which of the following will result in a rightward shift of the aggregate demand curve?
Price is one of the main factors that influence demand. Thus, we would agree that in most economies a decrease in the price level could result in a rightward (positive increase) shift of the aggregate demand curve.
Which of the following will cause a rightward shift in the production possibility curve?
Economic growth, a rightward shift in the production possibilities curve, will occur if resources expand. 2. Technical progress, an improvement in the best technology that allows more output to be produced with a given amount of resources, will result in economic growth.
Which of the following is a determinant of supply?
The correct answer is D. Product taxes and subsidies are determinants of supply.
What are the 3 determinants of supply?
changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include 1) the number of sellers in a market, 2) the level of technology used in a good’s production, 3) the prices of inputs used to produce a good, 4) the amount of government regulation.