The long-run industry supply curve shows the nature of adjustment that is likely to occur under pure competition when there are changes in demand conditions. This curve shows the relation between equilibrium price and output different firms are willing to offer for sale after all desired entry or exit has occurred due to external economies and diseconomies. In the words [...]
In this article we will discuss about the supply curve of a firm under perfect competition and monopoly. The supply curve of a firm (or of an industry) is one that tells us the quantity of output that would be supplied per period by the firm (or the industry) at any particular price so that the firm (or the firms [...]
The below mentioned article provides an overview on Supply. Supply: The quantity of a good or service offered for sale in a market depends on a large number of factors (variables). But, as in the case of demand, we ignore all of the relatively unimportant variables in order to concentrate upon those that have the greatest effect upon quantity supplied. [...]