Question

Write a short note on supply function
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Answer 1

Answer:

A supply function is a mathematical expression of the relationship between quantity demanded of a product or service, its price and other associated factors such as input costs, prices of related goods, etc. ... The same is the case with supply and input prices i.e. at higher input prices, supply is lower.

Answer 2

Answer:

A supply function is a mathematical expression of the relationship between quantity demanded of a product or service, its price and other associated factors such as input costs, prices of related goods, etc. The same is the case with supply and input prices i.e. at higher input prices, supply is lower.