Advertisements
Advertisements
Question
Which of the following is NOT an assumption of the Law of Supply?
Options
Costs of production do not change.
Technology remains constant.
Producers expect future price increases.
Prices of related goods are constant.
MCQ
Advertisements
Solution
Producers expect future price increases.
Explanation:
The law assumes there is no change in price expectations; producers do not anticipate future price changes.
shaalaa.com
Is there an error in this question or solution?
