Management Glossary

  Search Results: supply curve
supply curve
The relationship between the market price for a product and the total quantity of that product that all suppliers will be willing to produce at that price. Assuming that there are no constraints on the total volume that can be produced, in a competitive market, the higher the price that the market will bear, the more of that product that suppliers, in total, will be willing to produce. This cause-and-effect relationship may break down in a monopoly or oligopoly, in which suppliers may be willing to reduce supply in order to drive the price up.
Contributed by: Managerwise Staff
See: oligopoly, monopoly

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