Supply
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1) Supply is the quantity of a good or service that sellers are able and willing to sell at a specific price in a given period. 2) A change in price causes movement along the supply curve, resulting in a change in quantity supplied. 3) A change in supply is not caused by a change in price, but rather factors like environmental conditions, technology, resource prices, or number of suppliers, which results in a shift of the entire supply curve.
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The Calgary industrial real estate market remains sluggish due to the struggling local economy and low oil prices. While leasing activity increased in Q1 2017, new supply offset these gains resulting in a small increase in vacancy. Absorption was negative overall but an improvement over the prior year. The outlook is cautiously optimistic as vacancy rates stabilize and companies complete cost adjustments, but new construction remains slow due to economic uncertainty.
Supply
1) Supply is the quantity of a good or service that sellers are able and willing to sell at a specific price in a given period.
2) A change in price causes movement along the supply curve, resulting in a change in the quantity supplied. However, the supply curve itself remains unchanged.
3) A change in supply results from factors like changes in technology, resource prices, environmental conditions, or the number of suppliers, which cause the supply curve itself to shift. This shift changes the quantity supplied at each price level.
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1) Supply is the quantity of a good or service that sellers are able and willing to sell at a specific price in a given period.
2) A change in price causes movement along the supply curve, resulting in a change in the quantity supplied. However, the supply curve itself remains unchanged.
3) A change in supply results from factors like changes in technology, resource prices, environmental conditions, or the number of suppliers, which cause the supply curve itself to shift. This shift changes the quantity supplied at each price level.
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Here are the steps to solve this problem:
1) Write the supply and demand functions:
Qd = 6,000 - 3P
Qs = 3,000 + 4.5P
2) Set the supply and demand functions equal to find the original equilibrium:
6,000 - 3P = 3,000 + 4.5P
3,000 = 7.5P
P* = Rs. 400
3) Add the excise duty of Rs. 20 per unit to the supply function:
New Supply = Qs + Tax = 3,000 + 4.5P + 20
4) Set the new supply equal to demand and solve for the new equilibrium price:
6,000 -
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2) The supply of a good depends on its price - the higher the price, the greater the quantity supplied according to the law of supply. The supply curve slopes upward to show the relationship between price and quantity supplied.
3) Factors like input prices, technology, and the number of sellers can cause the entire supply curve to shift, changing total supply. A price change only leads to movement along a given supply curve.
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This document provides an overview of supply, including the definition of supply, the law of supply, differences between supply and quantity supplied, supply schedules, supply curves, factors that can cause supply curves to shift, and elasticity of supply. The key points are:
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- A supply schedule shows quantity supplied at different price levels while a supply curve graphs this relationship. Supply curves typically slope upward but some are vertical.
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- Examples are given to illustrate how changes in supply and demand curves impact equilibrium, such as how falling costs increased egg supply and declining prices.
- Elasticities measure the responsiveness of one variable to another, like price elasticity of demand.
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Demand and supply concept
Here are the steps to solve this problem:
1) Write the supply and demand functions:
Qd = 6,000 - 3P
Qs = 3,000 + 4.5P
2) Set the supply and demand functions equal to find the original equilibrium:
6,000 - 3P = 3,000 + 4.5P
3,000 = 7.5P
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New Supply = Qs + Tax = 3,000 + 4.5P + 20
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1) The document discusses the concepts of supply, stock, the supply curve, factors affecting supply, and elasticity of supply. It defines key terms and concepts through text and diagrams.
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This document summarizes key concepts about supply in economics. It defines supply as the quantity of a good or service one is willing and able to provide at various prices. It describes the law of supply, which states that firms will supply more of a good at a higher price and less at a lower price. It explains how to graph a market supply curve and major factors that can cause supply to shift, such as changes in marginal costs, the number of sellers, or producer expectations.
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This document discusses supply, including the law of supply, supply schedules, supply curves, market supply, and the differences between changes in supply versus changes in quantity supplied. The law of supply states that price and quantity supplied move directly. A supply schedule shows the quantity supplied at different prices, and a supply curve graphs this relationship. Market supply is the total supply from all firms. A change in supply is a shift of the supply curve due to factors like input prices, technology, the number of sellers, or taxes. A change in quantity supplied moves along the existing supply curve due to price changes.
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- Market equilibrium occurs where quantity demanded equals quantity supplied. Equilibrium price and quantity can change if demand or supply curves shift due to changes in the factors that influence them.
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This document provides an overview of supply, including the definition of supply, the law of supply, differences between supply and quantity supplied, supply schedules, supply curves, factors that can cause supply curves to shift, and elasticity of supply. The key points are:
- Supply is the willingness and ability of sellers to produce and offer goods for sale. The law of supply states that quantity supplied increases as price increases and decreases as price decreases.
- A supply schedule shows quantity supplied at different price levels while a supply curve graphs this relationship. Supply curves typically slope upward but some are vertical.
- Factors like resource prices, technology, taxes, subsidies, quotas, number of sellers, and weather can cause supply
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The document discusses the economic concept of supply. It defines supply and demand, and explains the law of supply - that as price increases, quantity supplied increases and vice versa. It describes the upward sloping supply curve and why it slopes that way due to producers supplying more at higher prices where profits are greater. The document outlines factors that can shift the supply curve, such as changes in technology, natural conditions, government policies, or input prices. It provides examples of how each of these factors would shift the supply curve for different goods.
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The document discusses the laws of supply and demand. It defines quantity demanded and quantity supplied, and explains how each is affected by different variables according to the laws of supply and demand. Specifically, it states that quantity demanded decreases when price increases, and quantity supplied increases when price increases. It also provides examples of how to analyze the effects of events using supply-demand diagrams.
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This document provides an overview of supply and demand analysis including:
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- Factors that determine supply and demand including price and non-price variables.
- Examples are given to illustrate how changes in supply and demand curves impact equilibrium, such as how falling costs increased egg supply and declining prices.
- Elasticities measure the responsiveness of one variable to another, like price elasticity of demand.
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This chapter discusses supply and demand analysis including the market mechanism. It covers the supply and demand curves, how equilibrium is determined by the intersection of the curves, and how shifts in the curves from changes in supply and demand factors affect equilibrium price and quantity. It also discusses elasticities including price elasticity of demand and supply, income elasticity of demand, and cross elasticity of demand. Examples are provided on the price of eggs and college education to illustrate how equilibrium changes over time with shifts in supply and demand.
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• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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Supply
- 2. SupplySupply Is the quantity of a good or service thatIs the quantity of a good or service that sellers aresellers are ableable andand willingwilling to sell at ato sell at a specific price in a particular period of timespecific price in a particular period of time
- 3. AbbreviationsAbbreviations PP = price= price QsQs = quantity supplied= quantity supplied
- 4. Law of SupplyLaw of Supply When P , QsWhen P , Qs When P , QsWhen P , Qs
- 5. How sellers think!How sellers think! Buyers and sellers look at high and low pricesBuyers and sellers look at high and low prices differentlydifferently Buyers are discouraged by high pricesBuyers are discouraged by high prices they buythey buy less and look for substitute productsless and look for substitute products Sellers are encouraged by high pricesSellers are encouraged by high prices they want tothey want to produce and sell moreproduce and sell more
- 6. S Q P P1 P0 Qs0 Qs1 Change in Price P P0 P1 Q S Qs0Qs1 P , Qs P , Qs Movement along the curve caused by P
- 7. A Change in PriceA Change in Price Causes movement along the supply curveCauses movement along the supply curve and anand an ∆∆ in quantity supplied.in quantity supplied. AnAn ∆∆ in quantity supplied means that onlyin quantity supplied means that only thethe priceprice has changed and a new quantityhas changed and a new quantity is supplied along a constant supply curve.is supplied along a constant supply curve.
- 8. Change in Supply – Not caused by change in Price 1. Change in environmental conditions 2. Change in technology 3. Change in resource prices 4. Change in the number of suppliers Results in a shift of the supply curve
- 9. Change in Weather – Market for Oranges P P P P Q1 Q0 Q1Q0 Q Q S1 S0 S1 S0 Bad weather – less is supplied to the market = S Good weather – more is supplied to the market = S
- 10. Change in Resource Prices – Market for Pork Production P P Q1 Q0 Q S1 S0 Due to increase in resource prices less is supplied to the market = S Increased costs due to Increased: •Wages •Pig feed costs •Manufacturing costs Note: feed costs for pig farmers = an in resource prices. Therefore S
- 11. Change in Resource Prices – Market for Air Canada Flights P P Q0 Q1 Q S0 S1 Due to decrease in resource prices – more is supplied to the market = S If workers agree to a in wages = a in Production costs, Therefore, S “Key words” to recognize a in Supply = manufacturing, costs, inputs, wages, labour costs, production, producers
- 12. Change in Technology – Market for Cars P P Q0 Q1 Q S0 S1 If a new technology makes production easier, saves time, more efficient, less labour, etc. = S Due to decrease in production costs – more is supplied to the market = S
- 13. Change in the number of Suppliers P P Q0 Q1 Q S0 S1 The creation of “The National Post” = a new supplier = S P P Q1 Q0 Q S1 S0 The acquisition of Chapters by Indigo will result in the closing of some Chapters stores = S Market for Newspapers Market for Bookstores
- 14. Change in S not causedChange in S not caused by a change in Priceby a change in Price S = S curve shifts out, to the rightS = S curve shifts out, to the right S = S curve shifts in, to the leftS = S curve shifts in, to the left
- 15. AA ∆∆ in Supplyin Supply AA ∆∆ (increase or decrease) in supply or a(increase or decrease) in supply or a shift in supply means that a change inshift in supply means that a change in amount supplied occurs because a shift inamount supplied occurs because a shift in the position of the supply curve.the position of the supply curve.