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Because of positive relation between price and supply.

Due to change in other factors the supply of a commodity falls at same price than supply curve shifted to leftward.

When the supply of commodity increases due to change in other factors. 

Equal to unity elastic.

Profit margin of firm (producer).

Law of supply states that other things remaining constant, quantity supplied of a commodity increases with increase in the price and decreases with a fall in its price.

Due to change in other factor like improvement in technology, decrease in price of inputs.

(i) Score goods 

(ii) Market period

Producer’s equilibrium is a situation where he gets maximum profit.

1. MR = MC 

2. Rising portion of Marginal cost curve intersects marginal revenue curve.

Total revenue will be maximum.

Marginal revenue is net additions to total revenue by sale of one additional unit of output.

Marginal revenue falls twice the rate of average revenue.

Total product increases at diminishing rate.

The flatter supply curve is more elastic at the point of intersection as compared to the steeper curve.

Perfectly elastic.

When percentage change in price is equal to percentage change in supply.

As a result of decrease in price of input producer cost falls than producers profit margin will increase so producer will increase the supply of commodity. 

Because AFC can never be zero at any level of output.

Average revenue remains constant.

It is because average fixed cost goes on falling with increase in output.

Per unit price remains constant. 

AFC can be calculated from TFC.

AP is a per unit of output of a factor.

Marginal product is net addition to total product when one additional unit of variable factor is used.

When marginal product of a factor is zero, then total product will be maximum.

Cost is the sum of explicit and implicit cost.

These factors of production which cannot be varied in short period.

Revenue is the amount received from sale of output.

These monetary payments by producer on factor and non factor payments is called explicit cost.

Price Elasticity of Supply (E_s) is a measure of degree of response of supply for a good to change in its price.

A very short period in which no adjustment can take place in supply in response to a change in demand/price.

At the point where TR = TC.

Normal profit is a situation where total cost of a firm is equal to total cost.

Individual supply schedule is a tabular form showing various quantities of a commodity which a firm is ready to sell at different prices during a given period of time.

Supply function state the functional relation between supply of a commodity and determinants of supply.

1. Number of firms 

2. Change in technology

Due to decrease in price.

As a result of increase in take rates production cost increase, so the profit margin of producer will fall and producer will decrease the supply.

Decrease in price.

When total product falls, marginal product becomes zero.

Marginal cost is the net addition to total cost when one additional unit of output is produced. 

Implicit cost is the cost of self owned resources of producer.

Production function shows the functional relationship between physical input and output.

MP falls but it falls at faster rate than AP.

Change in the behaviour of a factor in the short run. 

When per unit price falls by selling an additional unit of a good. 

Increase in price of a commodity. 

Total cost is the sum of total fixed cost and total variable cost. TFC remains constant at all levels of output.