Advertisements
Advertisements
Question
What does the Law of Supply state?
One Line Answer
Advertisements
Solution
Law of supply states the direct relationship between price and quantity supplied, keeping other factors constant.
shaalaa.com
Is there an error in this question or solution?
Chapter 3: Theory of Supply - QUESTIONS [Page 74]
APPEARS IN
RELATED QUESTIONS
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 factors governing the elasticity of supply?
What are the functions of Entrepreneur?
The producers prefer to supply more when prices are ______.
Explain the law of supply.
State and explain the law of supply with the help of a diagram.
What is supply function?
Why does the Law of Supply not apply to rare goods like antiques and old coins?
What is the relationship between price and quantity supplied described by the Law of Supply?
