Principles of Microeconomics/Microeconomic Principles/Supply

The supply curve
The supply curve is a mirror reflection of the demand curve. You should recognize that the supply curve operates from the firm's point of view, such that if a product is highly priced, the firm will want to supply more of it. As such, it is a positively sloped curve indicating the positive relationship between price of the good and quantity supplied.

Changes in supply
The demand curve is similar to the supply curve in that an increase in supply refers to a rightward shift of the curve and signifies that there will be a larger quantity of the good than before; a decrease in supply refers to a leftward shift of the curve and signifies that there will be a lesser quantity of the good than before. This section will present the three principal factors that shift the supply curve: changes in input prices, changes in technology, and changes in expectations.