Advertisements
Advertisements
Question
Assertion (A): Law of Supply is a qualitative statement.
Reason (R): Law of Supply indicates the magnitude of change in the quantity supplied.
Options
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true but Reason (R) is false.
Assertion (A) is false but Reason (R) is true.
Solution
Assertion (A) is true but Reason (R) is false.
APPEARS IN
RELATED QUESTIONS
State the law of supply.
State and explain the law of supply with exceptions.
The relationship between the price of a commodity and the supply of commodity is
What are the factors governing the elasticity of supply?
Elucidate the Laws of Returns to Scale. Illustrate.
Other things remaining unchanged, change in supply due to increase in price is called ______.
Law of supply states that ______.
Explain the law of supply.
What does the Law of Supply state?
What is supply function?
