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 ?
The water supply function was devolved to MCI after the formation of local government set up in Islamabad as earlier it was under the direct control of CDA.
In addition to the conventional hot-water supply function, it can circulate the heat for the function of floor heating.
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].
Keeping in view the importance of livestock and milk in the economy of Pakistan, this study was focused to analyze the milk production with the following main objectives: (1) To estimate the supply function of milk.
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.
Opportunities for organizations to leverage their supply function to create competitive advantage are well documented in the literature (e.g., Nelson 2004).
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. Also, there have been major changes in the price of chicken relative to those for other types of meat, so the price of some substitute goods might be expected to appear in the demand function.
The second principle also should influence the organizational choice for end-to-end distribution: singular management of 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.