Smith's Supply Schedule can also be represented graphically, as shown at the far right. By convention in supply and demand schedules, the per-unit price of a good is shown on the vertical axis, while the associated quantity of the good is indicated by the horizontal axis ( ). The graph is derived by plotting the points from the chart and then connecting then into a continuous line. Following the graph, we see that Smith supplies no cows until the price rises to 19 hens, when he supplies 1 cow. The quantity he supplies (Q) increases again at P=23 and at P=26. Q never exceeds 3, since he only has 3 cows to trade. Observe the characteristic trend of the supply schedule, which rises from left to right.
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Smith's
Supply Schedule
P (hens per cow)
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Q (cows)
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26 | 3 |
25 | 2 |
23 | 2 |
22 | 1 |
19 | 1 |
18 | 0 |
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 |