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प्रश्न
Explain how technological progress is a determinant of supply of a good by a firm.
उत्तर
When there is the advancement in technology, the cost of production falls and there is an increase in profit. It leads to an increase in the supply of good which shifts the supply curve
towards the right.
The above diagram shows that the advancement in technology shifts the supply curve S towards the right from S to S1 and the increase in the supply of good from OQ to OQ1. However, the price of the good at OP remains constant
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संबंधित प्रश्न
If price falls, the supply curve will shift to the left.
Given saving curve, derive consumption curve and state the steps in doing so. Use diagram.
When does ‘increase’ in supply take place?
How does subsidy influence the supply of a good by a firm? Explain.
Explain with reasons, whether you agree or disagree with the following statement
The supply curve of labour bends backwards
Distinguish between the following.
Percentage method of measuring the elasticity of supply and Geometric method of measuring the elasticity of supply.
What is meant by ‘increase’ in supply?
Distinguish between :
Percentage method of counting elasticity of demand and Geometric method of counting elasticity of demand.
Give reasons or explain the following statements
The relationship between price and supply is positive.
Answer the following questions in detail.
What is meant by Supply? State its determinants.
Fill in the blank with appropriate alternative given below
Total Revenue ÷ Number of units Sold = ________________ .
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Stock is the source of supply.
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Supply is directly related to price.
Give reason or explain:
The supply of agricultural commodity is relatively inelastic.
Write short note on the following:
Market supply schedule.
Do you agree or disagree with the following statement? Give reason.
The backward slopping supply curve shown as inverse relationship between supply of labour and wage rate.
State with reason whether you 'agree' or 'disagree' with the following statement.
Supply depends on several factors.
