| We will know precisely where the supply curve meets the demand curve, which will make the marketplace vastly more efficient. |
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| We find that price adjustment is well described by an aggregate supply curve in price-output space, that is, a price Phillips curve. |
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| A small demand response can have a large impact on overall prices because the supply curve is very steep on the margin. |
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| Two times ten million tonnes disappeared on the market annually, impacting the food supply curve. |
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| As prices rise, the quantity supplied increases along a given supply curve and the quantity demanded declines along a given demand curve. |
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| In this framework, a rise in the price of oil boosts producer prices for each level of supply: the supply curve shifts upwards. |
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| This backward shift of the aggregate supply curve of the economy of course both lowers output and raises prices. |
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| If the price level and nominal wage are flexible enough, the short-run aggregate supply curve shifts rightward until the economy produces its potential output. |
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| They will indeed raise costs, that is, shift up the aggregate supply curve. |
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| Like all equilibrium pricing, there is a supply curve and a demand curve for housing. |
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| In economic theory, the area under the supply curve represents the value of the time lost for supplying a given amount of labour. |
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| The short-run equilibrium price, the price that clears the market, is the price at which the demand curve and the short-run supply curve intersect. |
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| Bad weather may reduce the amount of coffee produced at all prices, i.e., it shifts the supply curve inward. |
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| Thus, in the graph of the supply curve, individual firms' supply curves are added horizontally to obtain the market supply curve. |
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| Any change in non-price factors would cause a shift in the supply curve, whereas changes in the price of the commodity can be traced along a fixed supply curve. |
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| The opposite happens if fewer people offer their wages in the market as the supply curve shifts to the left. |
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| The third panel shows labour market equilibrium, determined by the intersection of labour supply and labour demand curves at point A, assuming that the aggregate labour supply curve is inelastic, as it is in the paper. |
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| As each country is faced with the same supply curve, it is hard to believe that the differences in the countries' demand curves explain the price differences. |
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| Analytically, this adjustment not only involves an upward shift of the aggregate supply curve, which by itself implies lower inflation and higher growth. |
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| Robins showed a slide with a labour supply curve that showed how many hours of work would be supplied by a hypothetical person at each potential wage rate. |
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| This movement is moderated by the appreciation of the euro, which influences the supply curve in the opposite direction, as the euro prices of imported raw materials and intermediate goods are lower. |
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| On the contrary, if the demand curve has shifted due to changes in personal income, while the supply curve has remained the same, the intersection points will trace out the supply curve. |
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| Economists distinguish between the supply curve of an individual firm and between the market supply curve. |
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| The market supply curve is obtained by summing the quantities supplied by all suppliers at each potential price. |
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| When incorporating free international trade into the model we use a supply curve denoted as. |
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| The corresponding point on the supply curve measures marginal cost, the increase in total cost to the supplier for the corresponding unit of the good. |
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| As more people offer their labor in that market, the equilibrium wage decreases and the equilibrium level of employment increases as the supply curve shifts to the right. |
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