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Supply Curve

Supply Curve Definition

A graph displaying the quantity supplied of a product or service that would be available at different price points.  The law of supply states that price is a major determinant in the quantity supplied: higher price causes larger quantity. Therefore the supply curve usually slopes upward. Theoretically supply can be unreactive to price (in case of very uncompetitive markets), or supply can be infinite at a particular price (e.g. a highly competitive market).

RELATED TERMS
Bell Curve
Demand curve
RELATED CATEGORIES
Economy







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