Supply Curve
A supply curve links combinations of prices and quantities supplied for a specific seller or market.
Quantity Supplied
Quantity supplied is the quantity of a good that producers offer for sale at a specific price.
Law of Supply
The law of supply states as the price of a good rises, the quantity supplied will increase.
When does a surplus exist?
A surplus exists in a market if the actual price is
What is the law of demand?
The law of demand states that, holding everything else constant, when the price of good falls, the
Can two goods be used for the same purpose?
The two goods can be used for the same purpose .
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