Tuesday, 11 October 2011

HOW TO GRAPH SUPPLY CURVE



To graph supply curve, we follow the following steps
1- Draw the two axes. On the x-axis take price and on the y-axis take quantity.
2- From the information you have regarding producers willingness to supply, plot a dot in each case. i.e. if a producer is willing to supply q1 units of a good at price p1 than plot a dot against it.
3- Now join all the dots you have plotted.
4- You have your supply curve of a producer:)

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