An enterprise’s supply is the amount that it picks to sell at a provided cost price, provided technology, and provided cost prices of the components of production. The table that elucidates the quantities which an enterprise sells at different cost prices, technology, and prices of components remaining constant, is known as the supply schedule.
We can also depict the data as a graph that is known as a supply curve. The supply curve of an enterprise exhibits the degrees of output that the enterprise picks to manufacture. It corresponds to the distinct values of the market cost price and again maintains technology and prices of components of production constant. The supply curve of a firm distinguishes between the following:
This concept was about the supply curve of a firm. To learn more about such interesting concepts in economics, stay tuned to BYJU’S.
| Important Topics: |
Free Class
Comments