Question

explain the determine of a firm supply curve lmportation of unit tax:-​

Answer 1

Answer:

As students of the Indian economy, you must be aware of the new taxation policy under GST. This development altered the market prices of various products. But do you know that for the products whose taxes were decreased, their respective producers pumped up their production?

A supply curve is the graphical representation of a firm’s behaviour under market conditions. Technically, the supply curve is the graphical representation of a supply schedule. Alternatively, the supply curve is also the graphical representation of the law of supply.

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Answer 2

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➣ ➢ Explanation ➣ ➢

1. A change in the input prices also affects a firm's supply curve. If the price of an input (say, the wage rate of labour) increases, the cost of production rises. ... This refers to the fact that the firm's supply curve shifts to the left. At any given market price, the firm now supplies fewer units of output. . .
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