Explain any two causes of increase in supply of commodity
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1. Price of the given Commodity:
2. Prices of Other Goods:
2. Prices of Other Goods:
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Heya user ✨✨
▶️Own price of a commodity ➡️There is a direct relationship between own price of a commodity and its quantity supply . Generally,higher the price higher the quantity supply ,lower the price lower the quantity supply .
▶️Price of related goods ➡️ Supply of a good depend upon the price of related good .If price of coffee rises in the market ,the firm will be willing to sell less tea at its existing price .The same quantity of tea will be sold only at a higher price .
▶️Own price of a commodity ➡️There is a direct relationship between own price of a commodity and its quantity supply . Generally,higher the price higher the quantity supply ,lower the price lower the quantity supply .
▶️Price of related goods ➡️ Supply of a good depend upon the price of related good .If price of coffee rises in the market ,the firm will be willing to sell less tea at its existing price .The same quantity of tea will be sold only at a higher price .
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