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प्रश्न
What are the reasons for upward sloping supply curve?
Give any two reasons for the upward slope of a supply curve.
Explain any two reasons for the upward slope of the supply curve.
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उत्तर
The law of supply states that there is a positive relationship between the price of a product and the quantity that producers are willing to supply. This is shown by an upward-sloping supply curve.
This happens mainly due to two reasons:
- Higher Prices Mean More Profit: When the price of a product increases, producers can earn more profit. This encourages them to produce and sell more of that product, assuming other factors remain constant.
- Increasing Cost of Production: As the production of goods increases, the marginal cost (cost of producing each extra unit) also increases. To cover this higher cost, producers are willing to supply more only at a higher price.
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संबंधित प्रश्न
State the law of supply.
State and explain the law of supply with exceptions.
The relationship between the price of a commodity and the supply of commodity is
What are the factors governing the elasticity of supply?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
Examine the Law of Variable Proportions with the help of a diagram.
Elucidate the Laws of Returns to Scale. Illustrate.
A rightward shift in supply curve shows ______.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
The Law of Supply states that other things being constant ______.
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
Price and Supply move in the same direction. Justify the statement.
What does the Law of Supply state?
Which statement best expresses the Law of Supply?
Which of the following is NOT an assumption of the Law of Supply?
What happens to the quantity supplied if the price of potatoes rises from ₹1 to ₹5 per kg, according to the supply schedule?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
Which of the following is an exception to the Law of Supply?
Which factor is assumed to remain unchanged under the Law of Supply?
Which real-life example best illustrates the Law of Supply?
