The Supply Curve Assignment Help
Myhomeworkhelp.com Skilfully Explains Supply Law and Offers Reliable Supply Curve Homework Help
Being a student of economics, it is very important to have a clear understanding of the relationship between price and supply. And there is no one better than us to explain you supply curve and the law of supply. We know what types of complications arise while doing assignments on supply curves. Therefore, we offer the supply curve homework help so that our students can concentrate completely towards their studies.
What is supply curve?
A supply curve is a graphical representation which indicates the relation between price and quantity supplied. There is a direct relationship between price and supply. If the price is higher in that case quantity supplied is more. In a case of lower price, the quantity supplied also falls.
A supply curve graph consists of two axes. The X-axis represents quantity supplied, while the Y-axis represents the price of a product. In different circumstances, the curve shifts its position either from left to right and from right to left.
Learning objectives of supply curve
Students must read this chapter very carefully, as it is an important topic in microeconomics.
- After studying this chapter, you must be able to explain the relationship between price and quantity supplied
- Understanding the law of supply
- To analyse determinants of supply
- To consider the consequences of government policies, such as price floors and ceilings, tariffs, and quotas on the free-market price, excise taxes, and quantity exchanged
- Understanding concepts of consumer surplus and producer surplus
- How to control price and quantity?
- To know the increase in price, which can result in how much growth in quantity supplied and vice versa
At myhomeworkhelp.com you can easily find experts in economics who can who can explain you all these points with examples. Moreover, they also offer precise and comprehensive the supply curve assignment help service.
Understanding of the law of supply
The law of supply states that the relation between price and quantity of goods and services which companies produce willingly. A higher price results in more supply and endorses more companies to make the product.
Ourthe supply curve homework help providers explain this law with various examples so that students can easily understand and compare it with real time situation.
Determinants of supply
Being the supply curve assignment providers, we need to explain each determinant of supply briefly to our students.
You must have noticed that a change in supply of a specific product shifts the whole supply curve either to the left or right. There are several factors which influence supply of a particular product.
Given below four of the primary determinants of supply:
- The price of inputs
- The number of firms in the industry
How do these determinants of supply result shift in the supply curve?
As changes in price of products give an upward movement to the supply curve, changes in other determinants shift the supply curve from left to right. While providing the supply curve homework help, we explain the ways various determinants of supply shift a supply curve. For example, if prices of raw materials increase in that case a producer will not be able to supply same quantity at a given price. Thus the curve will shift towards left direction.
Our team members consider each determinant while offering the supply curve assignment help service 24*7. So be a part of myhomeworkhelp.com and get plagiarized free and authentic help manual.