Graphing Supply
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Graphing Supply
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Graphing Supply. The Law of Supply. P QS P QS. Step #1. Draw an standard y-axis Label the y-axis “Price”. Price. Step #2. Draw an standard x-axis Label the x-axis “QS”. Price. QS. Step # 3. Draw a standard supply curve Label the curve “S1”. S1. - PowerPoint PPT Presentation
Transcript of Graphing Supply
![Page 1: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/1.jpg)
Graphing Supply
![Page 2: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/2.jpg)
The Law of Supply
P QS
P QS
![Page 3: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/3.jpg)
Step #1• Draw an standard y-axis
• Label the y-axis “Price”
Price
![Page 4: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/4.jpg)
Step #2• Draw an standard x-axis
• Label the x-axis “QS”
Price
QS
![Page 5: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/5.jpg)
Step # 3• Draw a standard supply curve
• Label the curve “S1”
Price
QS
S1
![Page 6: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/6.jpg)
Step #4• Read the problem
• What determinant of supply is dictating the shift in supply?
• Draw the shift in supply.
![Page 7: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/7.jpg)
Step #5
Graphically depicting shifts in supply
![Page 8: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/8.jpg)
An increase in supply
Price
QS
S1
S2
![Page 9: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/9.jpg)
A decrease in supply
Price
QS
S1
S2
![Page 10: Graphing Supply](https://reader035.fdocuments.net/reader035/viewer/2022071807/56813054550346895d96060d/html5/thumbnails/10.jpg)
Step # 6
• Label the determinant