assuption of law exampls
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Assumptions Underlying the Law of Supply:
No change in the income: ...
No change in technique of production: ...
There should be no change in transport cost: ...
Cost of production be unchanged: ...
There should be fixed scale of production: ...
There should not be any speculation: ...
The prices of other goods should remain constant:
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Important assumptions of the law of supply are as follows:
✨No change in the income
✨No change in technique of production
✨There should be no change in transport cost
✨Cost of production be unchanged
✨There should be fixed scale of production
✨There should not be any speculation
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