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Complete the following statement: Other factors remaining constant, when less quantity is supplied only due to a fall in price, it shows ________. - Economics

MCQ

Complete the following statement:

Other factors remaining constant, when less quantity is supplied only due to a fall in price, it shows ________.

Options

  • contraction of supply

  • decrease in supply

  • expansion of supply

  • increase in supply

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Solution

Other factors remaining constant, when less quantity is supplied only due to a fall in price, it shows contraction of supply.

Concept: Exceptions to the Law of Supply
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 4 Supply Analysis
Exercise | Q 1. (4) | Page 45
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