Supply function plan



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SUPPLY FUNCTION

What is Supply Curve?


In economicssupply curve is a graphical representation of supply schedule
Individual supply curve
Market supply curve
In a graph, the price of a product is represented on Y-axis and quantity supplied is represented on X-axis.

Individual supply curve


PRICE OF THE PRODUCT (₹ PER KG)

QUANTITY SUPPLIED OF COMMODITY A (KG PER WEEK)

5

3,000

10

8,000

15

12,000

20

15,000

Market Supply curve


PRICE OF PRODUCT A (₹ PER KG)

QUANTITY SUPPLIED BY FIRM X (1000 KG PER WEEK)

QUANTITY SUPPLIED BY FIRM Y (1000 KG PER WEEK)

MARKET SUPPLY (1000 KG PER WEEK)

5

3

7

10

10

8

12

20

15

12

15

27

20

15

17

32

Movement and Shift In Supply Curve


Movement along Supply Curve is when the commodity experience change in both the quantity supply and price, causing the curve to move in a specific direction.
The shift in supply curve is when, the price of the commodity remains constant, but there is a change in quantity supply due to some other factors, causing the curve to shift to a particular side.

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