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8 months ago

How does an increase in the price of laptop memory chips affect the market of laptops?

1 answer:

4 0

If the laptop supply curve shifts to the left, an increase in memory chip prices will have an impact on the market for laptops.

The relationship between product price and the amount of product a market seller is willing and able to supply is graphically represented by the supply curve in economics. The graph's vertical axis represents product price, and its horizontal axis represents the amount of the product supplied.

Since product price and quantity supplied are directly related, the supply curve is typically depicted as a slope rising upward from left to right. This marketrelationship depends on a number of ceteris paribus (other things being equal) conditions holding true. The number of sellers on the market, the supply curve level of technology, the cost of production, and the seller's price are a few examples of such factors.

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