Supply Curve Diagram Economics. Work effort supplied at various w age rates on the X-axis reading from left to right. Introduction edit edit source.
The supply curve of labour or the supply curve of hours worked is the mirror image of the demand curve for leisure. Here p 0 is the original equilibrium price and q 0 is the equilibrium quantity. The market supply data of the commodity x as shown in the supply schedule is now presented graphically.
In the same due to unfavorable changes in non-price factors of the commodity the production and supply have fallen to Q 1 amount.
The original demand curve is D and the supply is S. Accordingly the supply curve has shifted leftwards and new supply curve S 1 S 1 has formed. This has caused the supply curve rightwards and new supply curve S 2 S 2 has formed. When the seller moves from left to right upward the price of X increases and Q x also increases it is called extension of supply.
