Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Reasons Or Explain the Following Statements the Relationship Between Price and Supply is Positive. - Economics

Give reasons or explain the following statements 

The relationship between price and supply is positive. 

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Solution

The law of supply states that the quantity supplied of a commodity is positively related to the price of the commodity, other things remaining constant. In other words, when the price of a commodity rises (or falls), the quantity supplied will increase (or decrease), other things remaining unchanged.

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