explain the exceptions of law of supply
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There are certain exceptions to law of supply, like a change in the price of a good does not lead to a change in its quantity supplied in the positive direction. The law of supply is not a universal principle that applies to all circumstances. ... Perishable Goods. Legislation Restricting Quantity.
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EXCEPTIONS OF LAW OF SUPPLY...
When the price of a product is high, more producers are interested in manufacturing the products. On the contrary, if the price of a product is low, manufacturers are less interested in producing the product and therefore the offer for sale is low. However, there are exceptions to law of supply and demand.
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