supply function
nounUK /səˈplaɪ ˈfʌŋkʃən/
US /səˈplaɪ ˈfʌŋkʃən/
A supply function is a math rule that shows how much of something a seller wants to sell at different prices.
The supply function shows that farmers will bring more apples to market when apples sell for a higher price.
RELATED WORDS
OTHER MEANINGS
2. In math, a function that gives the amount of a good producers are willing to offer at each possible price.
Economists graphed the supply function with price on the vertical axis.
3. A formula used in business to plan how much product to make available.
The company used a supply function to decide how many toys to ship each month.
4. The relationship between price and the amount sellers offer, often written as Q = f(P).
The supply function Q = 2P means sellers offer twice as many units as the price in dollars.