Tip of the Day: The Supply Curve


Supply curve

Supply curve (Photo credit: Wikipedia)

A producer’s Supply Curve slopes upward because as a certain good‘s sale price increases the producer is inclined to produce more of the good. On the other hand, as a good’s sale price decreases, suppliers’ tendency is to cut back on production of the good and focus their resources on production of more profitable items.

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2 Comments

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  2. Reblogged this on Econoblog and commented:

    A Tip from the archives. What’s the Supply Curve?

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