Movement all along the supply curve or expansion and contraction of supply curve:
Whenever more units are supplied at a higher price, it is termed as ‘expansion of supply’. Whenever fewer units are supplied at lower price, it is termed as ‘contraction in supply’. This is explained in figure shown below:
Whenever the price is OP, OA is supplied. Whenever price rises to OP1, the producer will provide OB units. The movement from OA to OB exhibits the extension in supply.
The original price is OP and original supply is OA. Whenever price falls to OP2 then the producer will supply OC units. And the supply contracted from OA to OC.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Supply help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Supply, project ideas and tutorials. We provide email based Theory of Supply help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Supply. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Supply. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!