is a graph of the relationship between the prices in the supply schedule and the
quantity supplied at those prices
Give this one a try later!
Supply Curve
Can be tested and validated; describes what is
, Give this one a try later!
Positive Statement
exists when there are many buyers and sellers that each have a small impact on the
market price and output.
Give this one a try later!
Competitive market
the variables that can be controlled for a model
Give this one a try later!
Endogenous Factors
Assuming all other things are equal, the quantity supplied of a good rises when the
price rises, and falls when the price of the good falls
Give this one a try later!
Law of Supply
occurs whenever the quantity supplied is greater than the quantity demanded
quantity supplied at those prices
Give this one a try later!
Supply Curve
Can be tested and validated; describes what is
, Give this one a try later!
Positive Statement
exists when there are many buyers and sellers that each have a small impact on the
market price and output.
Give this one a try later!
Competitive market
the variables that can be controlled for a model
Give this one a try later!
Endogenous Factors
Assuming all other things are equal, the quantity supplied of a good rises when the
price rises, and falls when the price of the good falls
Give this one a try later!
Law of Supply
occurs whenever the quantity supplied is greater than the quantity demanded
