Question

assuption of law exampls​

Answer 1

Answer:

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:

Answer 2

Answer:

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