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What are the two factors displayed on a supply curve? How do they cause changes in the supply curve? (Site 1)


help please

Answer 1

heres you answer

1, Price, For example when the cost of production of a company is lower the supply of that product increases because the company sees it as opportunity to make more profit. However, when the cost of production increases, the supply by the company reduces, thus graphically it is observed the supply curve will shift to the left.

Quantity: The quantity supplied is a reflection of the amount that the companies are willing and able to supply to the market.

2, Supply is the amount of goods that a supplier wants to supply to the market. The supply curve shows how much of a good or service sellers are willing to sell at any given price. Factors that cause a shift in a good’s supply curve are Cost of production: When cost of production increases, the firm reduces supply shifting the supply curve to the left and vice versa for reduction in cost of production which shift the curve to the right. Number of producers: An increase in number of producers leads to more supply shifting the supply curve to the right and decrease in number of producers shift the supply curve to the left. Use of technology lead to more production and supply shifting the curve to the right. Weather: bad weather lead to reduction in supply, shifting the curve to the left. Lower taxes. This reduce the cost of goods shifting the curve to the right, If another good is at a higher price providing more profit, the supply of the original good would fall while the supply of the other goods increases and vice versa.

Answer 2

Unclear question. However, I you are referring to the product supply curve.

Answer:

Price and quantity

Step-by-step explanation:

Remember, a supply curve is graphical representation of changes in the quantity supplied of a particular product as result of a change in price of that commodity.

1. The two factor displayed on the supply curve are the Price (usually on the vertical line or axis) and the quality supplied (on the horizontal line or axis).

2. Price: For instance, when the cost of production of a company is lower the supply of that product increases because the company sees it as opportunity to make more profit. However, when the cost of production increases, the supply by the company reduces, thus graphically it is observed the supply curve will shift to the left.

Quantity: The quantity supplied is a reflection of the amount that the companies are willing and able to supply to the market.

Conclusion: Both quantity and price changes results in a movement along the supply curve.