What is Supply schedule
What is Supply schedule and how it is related to supply curve?
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Supply schedule: The supply schedule is a table exhibiting the relationship among the price of a good and the quantity a producer is willing and capable to supply. The supply curve is the upward-sloping line associating price and quantity supplied. The supply schedule and the supply curve are associated since the supply curve is just a graph exhibiting the points in the supply schedule.
The supply curve slopes upward since if the price is high, supplier’s profits rise, therefore they supply maximum output to the market. The outcome is the law of supply—other things equivalent, whenever the price of good increases, the quantity supplied of the good too rises.
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When heroin were legalized, in that case the: (w) market price of heroin would drop considerably. (x) demand would raise although supply would decrease. (y) demand would decrease but supply would increase. (z) price of cocaine would raise. Discover Q & A Leading Solution Library Avail More Than 1451664 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1942283 Asked 3,689 Active Tutors 1451664 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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