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प्रश्न
State and explain the law of supply with the help of a diagram.
State the law of supply and explain it with the help of a diagram.
उत्तर
The law of supply states that with all other factors remaining constant, the quantity of a commodity supply varies directly with its price.
Acc. to Dooley: "The law of supply states that the higher the price, the greater the quantity supplied or the lower the price, the smaller the quantity supplied."
Individual Supply Schedule
| Price of good X | Quantity Supplied |
| 5 | 0 |
| 10 | 10 |
| 15 | 20 |
| 20 | 30 |
Supply curve
∴ The supply curve (SS) indicates that as the price of X rises, so does the quantity supplied.
संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
There is a direct relationship between price and quantity supplied.
What are the functions of Entrepreneur?
State and explain the elasticity of supply.
Examine the Law of Variable Proportions with the help of a diagram.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
The producers prefer to supply more when prices are ______.
What does the Law of Supply state?
What is supply function?
