Advertisements
Advertisements
Question
The Law of Supply states that other things being constant ______.
Options
when the quantity supplied rises, price falls.
when the price falls, quantity supplied rises.
when the quantity supplied rises, price rises.
when the price falls, quantity supplied falls.
Advertisements
Solution
The Law of Supply states that other things being constant when the price falls, quantity supplied falls.
APPEARS IN
RELATED QUESTIONS
State and explain the law of supply with exceptions.
The relationship between the price of a commodity and the supply of commodity is
What are the reasons for upward sloping supply curve?
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
With the help of a diagram state whether supply of a good is directly or inversely related to price?
Which of the following is NOT an assumption of the Law of Supply?
Which of the following is an exception to the Law of Supply?
