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Contraction of supply refers to a situation when there is ______. - Economics

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Question

Contraction of supply refers to a situation when there is ______.

Options

  • fall in the own price of a commodity

  • fall in the quantity supplied at the lower price of the commodity

  • downward movement along the same supply curve

  • all of the above

MCQ
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Solution

all of the above

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Chapter 5: Supply - Law of Supply and Price Elasticity of Supply - TEST YOURSELF QUESTIONS [Page 96]

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Frank Economics [English] Class 12 ISC
Chapter 5 Supply - Law of Supply and Price Elasticity of Supply
TEST YOURSELF QUESTIONS | Q 6. | Page 96
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