Թեմա - The aggregate supply curve and interpretation of its separate sections
Տեսակ - Ռեֆերատ
Գին - 3000 դրամ
Առարկա - Անգլերեն լեզվով
Էջեր - 10
2. Melvin & Boyes, Microeconomics 5th ed. (Houghton Mifflin 2002)
3. Ayers & Collins, Microeconomics (Pearson 2003) at 66.
The law of supply is one of the most fundamental concepts in economics. It works with the law of demand to explain how market economies allocate resources and determine the prices of goods and services. The law of supply indicates that as price increases quantity supplied also increases, but it doesn՚t measure to what degree. As with demand, the degree of sensitivity to price is measured with what՚s called supply elasticity. The elasticity of supply is the percent change in quantity supplied given (divided by) the percent change in price. Since both price and quantity are increasing or decreasing elasticity’s of supply are always positive, whereas elasticity’s of demand are always negative.