An increase in the supply of electric cars can cause the market supply curve for electric cars to shift rightward.
What does "market supply curve" mean?
- The entire quantity of a product that manufacturers are willing and able to sell during a specific time period, such as one month, at various prices, is known as the market supply.
- A market supply curve, according to the industry, is the horizontal addition of the supply curves for every single business.
- In economics, the supply curve is a visual depiction of the connection between the price of a good and the amount of it that a seller is willing and able to offer.
- The graph's horizontal axis represents supply quantity and the vertical axis represents product pricing.
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