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Draw a supply curve where the quantity available is fixed – producers in the short run...

Draw a supply curve where the quantity available is fixed – producers in the short run can not change the quantity supplied. What happens if populations increases. Show on a diagram and explain.

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Answer #1

Here, the graph shows a supply curve in the market that is fixed at a quantity that is why it is a vertical line, here no matter how much the price change the quantity supplied will not change. intially the polullation was low then the demand curve was D1 when the popullation increased the demand curved shift to D2, the price in the market increased but the quantity in the market will remain the same.

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