microeconomicdemandandsupply(编辑修改稿)

microeconomicdemandandsupply(编辑修改稿)内容摘要：

amount that producers plan to sell during a given time period at a particular price. Supply 169。 2020 Pearson AddisonWesley The Law of Supply The law of supply states: Other things remaining the same, the higher the price of a good, the greater is the quantity supplied。 and the lower the price of a good, the smaller is the quantity supplied. The law of supply results from the general tendency for the marginal cost of producing a good or service to increase as the quantity produced increases (Chapter 2, page 35). Producers are willing to supply a good only if they can at least cover their marginal cost of production. Supply 169。 2020 Pearson AddisonWesley Supply Curve and Supply Schedule The term supply refers to the entire relationship between the quantity supplied and the price of a good. The supply curve shows the relationship between the quantity supplied of a good and its price when all other influences on producers’ planned sales remain the same. Supply 169。 2020 Pearson AddisonWesley Figure shows a supply curve of energy bars. A rise in the price of an energy bar, other things remaining the same, brings an increase in the quantity supplied. Supply 169。 2020 Pearson AddisonWesley Minimum Supply Price A supply curve is also a minimumsupplyprice curve. As the quantity produced increases, marginal cost increases. The lowest price at which someone is willing to sell an additional unit rises. This lowest price is marginal cost. Supply 169。 2020 Pearson AddisonWesley A Change in Supply When some influence on selling plans other than the price of the good changes, there is a change in supply of that good. The quantity of the good that producers plan to sell changes at each and every price, so there is a new supply curve. When supply increases, the supply curve shifts rightward. When supply decreases, the supply curve shifts leftward. Supply 169。 2020 Pearson AddisonWesley The five main factors that change supply of a good are  The prices of factors of production  The prices of related goods produced  Expected future prices  The number of suppliers  Technology  State of nature Supply 169。 2020 Pearson AddisonWesley Prices of Factors of Production If the price of a factor of production used to produce a good rises, the minimum price that a supplier is willing to accept for producing each quantity of that good rises. So a rise in the price of a factor of production decreases supply and shifts the supply curve leftward. Supply 169。 2020 Pearson AddisonWesley Prices of Related Goods Produced A substitute in production for a good is another good that can be produced using the same resources. The supply of a good increases if the price of a substitute in production falls. Goods are plements in production if they must be produced together. The supply of a good increases if the price of a plement in production rises. Supply 169。 2020 Pearson AddisonWesley Expected Future Prices If the expected future price of a good rises, the supply of the good today decreases and th。