The Concept of Supply Schedule and Supply Curve

Supply Schedule:
A supply schedule is a tabular representation that shows the quantity of a particular good or service that producers are willing and able to supply at different prices, during a given time period, holding all other factors constant. It demonstrates the relationship between the price of a product and the quantity supplied by producers.

A hypothetical supply schedule for apples:

Price ($ per pound) | Quantity supplied (pounds)
-----------------------------------------------
$1.00 | 100
$1.50 | 150
$2.00 | 200
$2.50 | 250
$3.00 | 300

Supply Curve:
A supply curve is a graphical representation of the supply schedule. It shows the relationship between the price of a good or service and the quantity supplied by producers. The supply curve is upward sloping, indicating that as the price of a product increases, producers are willing to supply more of it.

Diagram:
In the diagram, the price of apples is shown on the vertical axis and the quantity supplied is shown on the horizontal axis.

```
^
Price | /
($) | /
| /
| /
| /
| /
| /
| /
| /
| /
|/
----------------------->
Quantity Supplied
```

The supply curve starts from the bottom left corner of the graph and slopes upward to the top right corner. Each point on the supply curve corresponds to a specific price and quantity supplied combination. In the given example, as the price of apples increases, the quantity supplied also increases.

Key Points:
- The supply schedule is a table that shows the quantity supplied at different prices.
- The supply curve is a graphical representation of the supply schedule.
- The supply curve is upward sloping, indicating a positive relationship between price and quantity supplied.
- The supply curve starts from the bottom left corner and slopes upward to the top right corner.
- Each point on the supply curve represents a specific price and quantity supplied combination.