Supply Lecture
Supply Schedule and Supply Curve
Supply schedule for hamburgers:
Relationship Between Supply and Quantity Supplied Qs
The Supply Curve for Hamburger:
The Supply Curve:
3. A change in the commodity's own price results
Increase in Supply:
A Decrease in Supply:
Supply Defined:
Quantity Supplied Defined:
The Determinants of Supply
Number of Firms in the Industry
Increased Business Firms
State of Technology
Improved Technology:
Weather
Good Weather
Bad Weather
Changes in the Cost of Production
Increased Production Costs
Slide Show from 22 to 27
PPT Slide
What Occurs when COP Decreases?
Slide Show 32 to 36
Price of other commodities that use the same or similar set (bundle)of inputs:
Expect Supply of Corn to....?
Expect Price of Corn to......?
Let Us Add a WRINKLE.
Domestic Supply of Corn? Domestice Price of Corn?
Domestic Supply of Beans? Domestic Price of Beans?
Do You See Other Strategies?
What Has Happened to the Supply of Farm Labor Over Time
Producer Expectations
Price Cycles Due to Expectations
Length of Time Available for Producer Response to Price Changes
Production Taxes and Subsidies
An Increase in Production Taxes
A Decrease in Production Taxes
Many Politicians.......
Increase Subsidies (or tax breaks)
Corporate Welfare?
Decrease Subsidies (or tax breaks)
Remember:
Email: herman_sampson@ncsu.edu
Home Page: http://www2.ncsu.edu/ncsu/cals/course/are012/intro.html
Other information: ARE 012: Introdution to Agricultural Economics