Economy, asked by happybhimbha, 4 months ago

What do you mean by extension of supply?

Answers

Answered by anaghpadgavhankar

2

Answer:

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.

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Answered by lakshmanmaiti20

13

Answer:

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.

Explanation:

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