supply function

supply function

a form of notation that links the DEPENDENT VARIABLE, quantity supplied (Qs ), with various INDEPENDENT VARIABLES that determine quantity supplied such as product PRICE (P), prices of factor inputs (Pl and P2 ), the state of technology (T), and business goals (G). The equation states that:

Changes in any of these independent variables will affect quantity supplied, and if we wish to investigate the particular effect of any one of these variables upon quantity supplied then we could (conceptually) hold the influence of the other independent variables constant (CETERIS PARIBUS), whilst we focus upon the particular effect of that independent variable. See also SUPPLY CURVE, SUPPLY CURVE (SHIFT IN).

References in periodicals archive ?
7 million (ex-vat) over 36 months this is a high value contract and the winning tenderer will have an opportunity to work with a customer who has overhauled their supply function in order to extract efficiencies from fourteen (14) locations.
Yet, as the supply function strives to be aligned with the top-management, the number one supply strategy shown in Table 4 remains the same in both 2007 and 2015: "align supply management strategy with overall company goals.
This paper estimates the demand for money in the Pakistan within a model where the money supply function is also considered simultaneously [1].
Under the RFQ, the company seeks a design-construction firm to decommission the aging coastal dam which is sediment filled to 90% of its capacity and no longer serves a water supply function, the company said and added that the project will allow the sediment to remain while the Carmel River will be rerouted 1/2 mile to bypass the sediment and finally the dam will be removed.
In the estimated supply function, the most influential variables were milk price, number of milking animals and variable cost.
Independent optical practitioners should be concerned, he said, particularly if their business is seen as "simply performing a supply function, purely supplying a product against a prescription" as providers such as Amazon will look to get involved.
Hagood writes from his collection of correspondence, official reports and memoranda and his personal journal to describe how he and his assistants built the supply function for the US, how they managed to get such miscellaneous items as socks and ammunition to the right place at the right time, and how they managed their keen awareness that their mistakes cost lives.
One is due to the rapid improvements in technology for the production of broilers that have taken place over the postwar era, thereby shifting the supply function.
As earlier discussed, the supply function is currently performed by both DLA and the Military Services, each of which is managed through multiple organizational levels in separate reporting chains.
Consequently, there is a range of positive input prices over which each input supply function yields negative quantities.
Substituting the inverse demand function into the supply function and taking account of the temporary equilibrium condition and the naive expectation formation yield the following first-order difference equation of output,