Question

Will supply curves have the same shape in all

markets? If not, how will they differ?

Short answer

No, supply curves won't have the same shape in all markets.

Step-by-step solution

Step 1. Define supply curve.

The supply curve is a graph that depicts the relationship between the cost of a commodity or service and the amount delivered over time.

Step 2. Will supply curves in all markets have the same shape? How will they vary if they don't?

The link between the price and quantity of a good that a seller is able and willing to supply is represented by the supply curve.

A supply curve's form is determined by how supply fluctuates in relation to its price change. Natural resources, for instance, are limited in quantity. As a result, the supply curve for land and resources will be steeper because increasing production is harder.