Question

monuments along the supply curve is known as
1. contraction of supply
2. expansion of supply
3. increase in supply
4. expansion and contraction of supply​

Answer 1

Explanation:

Contraction of Supply. (a) When the supply of a commodity rises only due to increase in the price of the commodity, then it is said to be extension in supply. (a) When supply of a commodity falls only due to fall in the price of that commodity it is said to be contraction of supply.

Answer 2

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