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प्रश्न
Other things remaining unchanged, change in supply due to increase in price is called ______.
पर्याय
Contraction of supply
Expansion of supply
Decrease in supply
Increase in supply
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उत्तर
Other things remaining unchanged, change in supply due to increase in price is called Expansion of supply.
Explanation:
When the price of a commodity increases and other factors remain unchanged, the quantity supplied typically increases as well. This increase in quantity supplied in response to a price increase is referred to as an expansion of supply.
संबंधित प्रश्न
State and explain the law of supply with exceptions.
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There is a direct relationship between price and quantity supplied.
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