Economy, asked by pramodpatnaik1977, 2 months ago

explain the law of supply and supply cruve​

Answers

Answered by WantOnlyAyush
0

The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.

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Answered by ashra7860
0
The law of supply states that, other things being equal, the supply of a commodity increases with an increase in its price and decreases with a fall in its price.
Supply curve is a graphical representation of a supply schedule.
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