framboðsskúrfunni
The framboðsskúrfunni, often translated as the supply curve, is a fundamental concept in microeconomics representing the relationship between the price of a good or service and the quantity that producers are willing and able to supply at that price. Generally, as the price of a good increases, the quantity supplied also increases, assuming all other factors remain constant. This positive relationship is depicted as an upward-sloping curve on a graph, with price on the vertical axis and quantity on the horizontal axis.
Several factors can cause a shift in the supply curve, meaning a change in the quantity supplied
The interaction between the supply curve and the demand curve determines the market equilibrium price and