Question

Mention the two determinants of a firm's supply curve

Answer 1

Heya mate ✌️✌️


DETERMINANTS OF SUPPLY CURVE ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️


⏺️OWN PRICE OF A COMMODITY➡️THERE IS A DIRECT RELATIONSHIP BETWEEN OWN PRICE OF A COMMODITY AND IT'S QUANTITY SUPPLIED.GENERALLY, HIGHER THE PRICES, HIGHER THE QUANTITY SUPPLIED AND LOWER THE PRICES, LOWER THE QUANTITY SUPPLIED.



⏺️PRICE OF RELATED GOODS➡️ SUPPLY OF A GOOD DEPENDS UPON THE PRICES OF RELATED GOODS.

EXAMPLE ⏩ A FIRM SELLING TEA.IF PRICE OF A COFFEE RISES IN THE MARKET,THE FIRM WILL BE WILLING TO SELL LESS TEA AT IT EXISTING PRICE.THE SAME QUANTITY OF TEA WILL BE SOLD ONLY AT A HIGHER PRICE.



✨ HOPE THIS HELPS YOU ✨

Answer 2

$\huge\mathfrak\red{Bonjour\:Mate}$

$\huge\boxed{Answer}$_________✌✌

➡️When factors other than price changes, supply curve will shift. Here are some determinants of the supply curve. ... Higher production cost will lower profit, thus hinder supply. Factors affecting production cost are: input prices, wage rate, government regulation and taxes, etc.

$<marquee>✨Hope It Helps You✨$