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Module 1: The competitive market system

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XSIQ
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Economics - Supply Schedule

Supply Schedule

This information can also be shown on a supply curve.

The supply of product is the amount of a good or service that producers
are willing to sell at a particular price, at a point in time. The law of
supply states that there is a direct relationship between the price of a
product and the quantity supplied. More will be supplied at a higher price
because producers wish to maximise profit.

The quantity of a product that will be supplied at a range of prices, at a
point in time, can be presented in the form of a supply schedule.

$
QUANTITY SUPPLIED

45
10

40
20

35
30

30
40

25
50

20
60

15
70

10
80

5
90

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