What is law of supply??? Assumptions????
Answers
Answered by
3
Heya.....
See here for your answer.....
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Law of supply States that.....
Other thing remaining constant then there is a positive relationship between the price and quantity demanded of a commodity....
It's assumptions....
"" No change in the price of related goods...
" Government policy doesn't create impact on supply...
" No business expectations...
" A firm has no special goal..
" There is no improvement in the technology used...
" No change in the prices of input used....
-- Be Brainly....
See here for your answer.....
===========
==================
Law of supply States that.....
Other thing remaining constant then there is a positive relationship between the price and quantity demanded of a commodity....
It's assumptions....
"" No change in the price of related goods...
" Government policy doesn't create impact on supply...
" No business expectations...
" A firm has no special goal..
" There is no improvement in the technology used...
" No change in the prices of input used....
-- Be Brainly....
Answered by
3
heya...
Here is your answer...
Law of Supply:
The law of supply reflects the general tendency of the sellers in offering their stock of a commodity for sale in relation to the varying prices.
Assumptions:
1. No change in the income
2. No change in technique of production
3. There should be no change in transport cost
4. Cost of production be unchanged
5. There should be fixed scale of production
It may help you...☺☺
Here is your answer...
Law of Supply:
The law of supply reflects the general tendency of the sellers in offering their stock of a commodity for sale in relation to the varying prices.
Assumptions:
1. No change in the income
2. No change in technique of production
3. There should be no change in transport cost
4. Cost of production be unchanged
5. There should be fixed scale of production
It may help you...☺☺
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