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LU 3 LAW OF SUPPLY (Factors of Change in Supply Curve (Price of related…
LU 3 LAW OF SUPPLY
Law of Supply
P :arrow_up:, QS :arrow_up:
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Supply Curve
- graph / relationship / P & QS
Supply Schedule
- table / relationship / P & QS
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Shift
- more than 1 curve (S1, S2, S3)
Movement
- along 1 curve only (only from point A to point B)
Supply
- number of goods / sellers / willing / sell