Lyle Edwin Mansfield was born March 27, 1924, in Guthrie County, the son of Charles and Helen (Miller) Mansfield. He went to school in Herndon and at an early age started working on the CMSLP&C Railroad, which was his lifetime occupation. He had worked on a signal crew, retiring in the mid-1980s.
In 1892 Judge Mansfield married Mrs. Ada E. Davis Lowe. They have a daughter, Margaret, married J. W. Cook, general manager of the Reed Store at Mansfield, and they have two children, John W. Jr., and Edwin Mansfield.
The market supply curve is a visual display of the relationship between the price of a product and the quantity that companies are willing to supply, holding other factors constant. Economists display supply curves on a two-dimensional graph in which the vertical axis represents price and the horizontal axis represents quantity. The market supply curve for most products slopes upward and to the right, reflecting greater supply as prices rise. As prices rise, companies have a greater incentive to produce more of a good and offer it for sale. Economist Edwin Mansfield points out that the shape of a supply curve is determined by a series of factors, including time, technology and the prices of inputs.