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  • Supply is a part of the stock, which is offered for sale at a particular price, at a particular time.
  • It should be studied from the manufacturer’s perspective.
  • Supply curve always slopes upwards from left to right.
  • Supply function represents the relationship between price of a commodity and quantity supplied.
  • If supply changes only due to price we denote it as expansion and contraction and if the supply changes due to other factors we denote it as increase and decrease.

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