Dr.K.Baranidharan
Present by…
Engineering
Economics &
Financial
Accountingment
Ee&fa
218 August 2013
SUPPLY
FUNCTIONS
Supply function
represents the quantity if
the commodity that would
be supplied at a
price, levels of
technology, input p...
 When we express mathematically
the relation between supply
(dependent variable) and its
determinants (independent
variab...
 i) price of the product (Px)
 Ii)cost of production (wages, rent, interest,
and price of raw materials) (C)
 Iii) stat...
 A firm supply function (Sx) for a good X
can be simplified by holding constant the
values of all variables other than th...
Dr.K.Baranidharan
THANK YOU
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EEFA - SUPPLY FUNCTION - FINAL YEAR CS/IT - SRI SAIRAM INSTITUTE OF TECHNOLOGY - DR,K,BARANIDHARAN

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EEFA - SUPPLY FUNCTION - FINAL YEAR CS/IT - SRI SAIRAM INSTITUTE OF TECHNOLOGY - DR,K,BARANIDHARAN

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EEFA - SUPPLY FUNCTION - FINAL YEAR CS/IT - SRI SAIRAM INSTITUTE OF TECHNOLOGY - DR,K,BARANIDHARAN

  1. 1. Dr.K.Baranidharan Present by…
  2. 2. Engineering Economics & Financial Accountingment Ee&fa 218 August 2013
  3. 3. SUPPLY FUNCTIONS
  4. 4. Supply function represents the quantity if the commodity that would be supplied at a price, levels of technology, input prices and all other factors. Sri Sairam Institute of Technology 415.07.2013
  5. 5.  When we express mathematically the relation between supply (dependent variable) and its determinants (independent variable), the functional representation is termed supply functions  Thus supply of a product X (Sx) is a function of: Sri Sairam Institute of Technology 515.07.2013
  6. 6.  i) price of the product (Px)  Ii)cost of production (wages, rent, interest, and price of raw materials) (C)  Iii) state of Technology (T)  Iv) Government policy regarding taxes and subsidies (G)  V) Other factors like number of firms.  We can write this relationship in the form of a supply functions as: Sri Sairam Institute of Technology 615.07.2013
  7. 7.  A firm supply function (Sx) for a good X can be simplified by holding constant the values of all variables other than the price of the good, as follows: S = f(P) A linear supply function is written in the form Qs = c + d P Sri Sairam Institute of Technology 715.07.2013
  8. 8. Dr.K.Baranidharan THANK YOU

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