ABSTRACT
The interpretation of the ordinary supply curve (as shown in Figures 44.1, from Cournot, and 44.2 from Marshall) depends on the period of time taken into account. If one takes a limiting curve, one corresponding to the short-period demand curve, it shows an instant of time. It will be like the hypothetical demand curve as it will show the prices at which different quanta of goods would be supplied. However,
(1) If we abstract the actual social-economic mechanism, i.e. the distinction between producers and consumers, and have mere members dealing with one another, then this supply curve may be considered as a demand curve. Suppliers are people who want other commodities. Each supply curve is the reciprocal of a demand curve, so it could be represented by an ordinary demand curve for money. There is no difference in principle between short-period demand and short-period supply curves.
