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| | Hi there. My name is Sophia Meagher even though it is not the title on my beginning certificate. To perform lacross is some thing he would psychic solutions by lynne - [http://formalarmour.com/index.php?do=/profile-26947/info/ go to website], no means give up. Credit authorising is exactly where my main earnings arrives from. Her family members life in Ohio. |
| {{Economics sidebar}}
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| The '''law of supply''' is a fundamental principle of economic theory which states that, all else equal, an increase in price results in an increase in quantity supplied.<ref>Mas-Colell, A., Whinston, M. Green, J.: [http://www.amazon.com/Microeconomic-Theory-Andreu-Mas-Colell/dp/0195073401 ''Principles of Microeconomics'']. Oxford University Press., pg 138. 1995.</ref> In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes. This means that producers are willing to offer more products for sale on the [[market]] at higher prices by increasing production as a way of increasing profits.<ref>Rittenberg, L. & Tregarthen, T.: [http://catalog.flatworldknowledge.com/bookhub/reader/21?e=rittenberg-ch01 ''Microeconomics''] </ref>
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| In non-differentiable terms, the law of supply can be expressed as:
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| :<math>(p - p')(y-y')</math> ≥ <math>0</math>,
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| where ''y'' is the amount that would be supplied at some price ''p'', and ''y' '' is the amount that would be supplied at some other price ''p' ''. Thus for example if ''p'' > ''p' '' then ''y'' > ''y' ''.<ref>Mas-Colell, d., lucrezi, M. Green, J.: [http://www.amazon.com/Microeconomic-Theory-Andreu-Mas-Colell/dp/0195073401 ''Principles of Microeconomics'']. Oxford University Press., pg 138. 1995.</ref>
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| ==See also==
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| {{Portal|Business and economics}}
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| *[[Demand curve]]
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| *[[Law of demand]]
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| *[[Supply (economics)]]
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| *[[Supply and demand]]
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| *[[GDR-Gandmara Deepak Rana]]
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| *[[GPR-Gandmara Pradeep Rana]]
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| ==References==
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| <references />
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| {{DEFAULTSORT:Law Of Supply}}
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| [[Category:Economics laws]]
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| {{economics-stub}}
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Latest revision as of 20:27, 7 January 2015
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