A graph of the relationship between the price of a good and the quantity supplied
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supply curve
a table that shows the relationship between the price of a good and the quantity
supplied
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supply schedule
A tax on goods produced abroad and sold domestically
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tariff
a measure of how much the quantity demanded of a good responds to a change in
consumers' income, computed as the percentage change in quantity demanded
divided by the percentage change in income
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income elasticity of demand
a legal minimum on the price at which a good can be sold
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price floor
value of everything a seller must give up to produce a good
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supply curve
a table that shows the relationship between the price of a good and the quantity
supplied
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supply schedule
A tax on goods produced abroad and sold domestically
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tariff
a measure of how much the quantity demanded of a good responds to a change in
consumers' income, computed as the percentage change in quantity demanded
divided by the percentage change in income
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income elasticity of demand
a legal minimum on the price at which a good can be sold
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price floor
value of everything a seller must give up to produce a good
