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The quantity supplied is a term used in economics to describe the number of goods or services that are supplied at a given market price. ... Example of Quantity Supplied .
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BetaHere is the quantity supplied example to explain the concept further: Let us assume Apple manufactures 500 iPhones at $30,000 per piece per week to cater to the customer's demand. Its competitor decides to increase the price to $35,000 to increase profits. If Apple wants to earn more profits, it can do two things - either increase the selling ...
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BetaQuantity Supplied Examples. Think about a company that sells cars, Green's Auto Sales. As summer approaches, the automaker's rivals have been hiking prices. So as opposed to the prior average selling price of $20,000, the average car in their market now sells for $25,000. To maximize revenues, Green decides to increase its car supply.
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BetaFor example, Samsung's market supply of TV sets does not represent the complete available stock. It is the quantity that Samsung is prepared to sell in the market. ... Quantity supplied is show on the Y-axis and Price is shown on the X-axis. When the price rises from ₹10 to ₹15, the quantity supplied expands from 150 units to 250 units ...
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BetaTypically a time period is also given when describing quantity supplied For example: When the price of an orange is 65 cents the quantity supplied is 300 oranges a week. If the price of copper falls from $1.75/lb to $1.65/lb, the quantity supplied by a mining company will fall from 45 tons a day to 42 tons a day.
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BetaDefinition: Quantity supplied is an economic measurement of the amount of finished goods and services that supplies are willing to produce and sell in the market at a given price.This amount varies at different price levels, but typically the higher the price, the more likely producers are willing to provide goods and services to consumers.
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BetaQuantity supplied is an important concept in economics because it helps to explain how markets work. It is closely related to the concept of supply and demand since it describes the amount of a good or service that a producer is willing to supply at a certain price. Thus, it is an important factor in determining the equilibrium price and ...
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BetaFor example, when housing prices increase (when the demand for houses has been strong), then more people will want to sell their house (quantity supplied increases). A quantity supplied change is illustrated in a graph by a movement along the supply curve. In the graph below we are moving along the supply curve from the first intersection point ...
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BetaQuantity supplied is the volume of goods or services produced and sold by businesses at a particular market price. A fluctuation in the price level leads to a change in the quantity supplied. ... An example of a product substitute is corn and soybeans as they utilize the same resource for poduction (farmland). If the price of corn decreases ...
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BetaQuantity supplied is the amount of a good or service offered for sale during a given period of time. The time period can be a week, a month, or even years. ... For example, let’s say the cost of a Graphics processing unit (GPU) for an iPad decreases from $100 to $50. Let’s also assume Apple now produces iPads in a country with a cheaper ...
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