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प्रश्न
Give reason or explain:
When price rises, supply expands.
टीपा लिहा
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उत्तर
Supply of a good is positively related to the price of a commodity. That is, other things being constant, when the price of a good increases, its quantity supplied also increases. This is because higher prices implies higher profitability for the producers. Consequently, they prefer to increase the sales by increasing supply.
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