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Supply - Coggle Diagram
Supply
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vertical supply curive
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factors
no time to produce , eg: tickets in theatres
no possibility of ever producing more, eg: limited offer of a particular clothing
a supply of an individual firm indicates the various quantities of a good or service o firm is willing and able to produce and supply to the market for sale at different possible prices during at particular period of time
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according to the law of supply there is a positive relationship between the quantity of a good supplied over a particular period and its price, ceteris paribus; as the price of the good increases ; as the price falls the quantity supplied also falls ceteris paribus
any change in price produces change in quantity supplied shown as a movement on the supply curve. any change in the determinant of supple produces a change in the supply. shift in the whole supply curve