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प्रश्न
Explain any two causes of decrease in supply of a commodity.
टिप्पणी लिखिए
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उत्तर
- Increase in factor price: Increase in price of factors of production will increase the cost of production due to which profit decreases. As a result, supply of this particular commodity decreases.
- Increase in tax rate: Increase in tax rate by government will also increase the cost of production due to which profit decreases.
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