Search answer for your unanswered questions.

Class : 11
Unit : Economics

What is Supply equation?

Ans : It is the mathematical expression of the relationship between supply for a commodity and it’s determinants. Since, there is positive relationship between price of the commodity and it’s quantity supply. Simple linear supply equation is presented below: Sₓ = a + b. Pₓ Where, Sₓ = Supply for a commodity a = autonomous supply Pₓ = Price of commodity x
    Did you find this answer useful?
   Then Register Now to view other answers easily.