Question

Identify & explain the concept from the given illustration.

Amar sells 50 dozens of mangoes daily at ₹ 300/- per dozen.

Answer 1

Concept: Individual supply

Explanation:

1. Individual supply refers to the quantity of a commodity that an individual seller is willing and able to offer for sale at a given price, during a certain period of time.
2. Since given illustration is about the quantity of mangoes sold by Amar at a given price (₹ 300/- per dozen) during a certain period of time (a day), it is related to the concept of ‘individual supply’.