Supply Schedule
Solution
import matplotlib.pyplot as plt
prices = []
hamburgers = []
for price in range(0,11):
prices += [price]
hamburgers += [price]
plt.plot(hamburgers,prices)
plt.xlabel("Quantity Supplied")
plt.ylabel("Price")
plt.show()
Let’s find aggregate supply like we did with demand. Let’s say there are two firms, one produces 1 unit for each price, and the other produces 2 for each price level increase.
prices = []
hamburgers = []
for price in range(0,11):
prices += [price]
hamburgers += [price]
plt.plot(hamburgers,prices)
prices = []
hamburgers = []
for price in range(0,11):
prices += [price]
hamburgers += [price*2]
plt.plot(hamburgers,prices)
prices = []
hamburgers = []
for price in range(0,11):
prices += [price]
hamburgers += [(price)+(2*price)]
plt.plot(hamburgers,prices)
plt.xlabel("Quantity Supplied")
plt.ylabel("Price")
plt.title("Combined Supply of Hamburgers")
plt.legend(['Producer 1','Producer 2','Combined'])
plt.show()
Shifting the supply curve or moving along the supply curve would work very much the same as for demand.
Source Code