assumpution to the law of supply
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HEY MATE✌️✌️
ASSUMPTIONS OF LAW OF SUPPLY--
>There is no change in the price of the factors of production .
>No change in the technique of the production .
>No change in business expectations .
>No change in the price of related goods .
>No change in the goal of the firm.
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sinu0077:
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The term “other things remaining the same” refers to the following assumptions in the law of supply: No change in the state of technology. No change in the price of factors of production. No change in the number of firms in the market
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