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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