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Question
Give reasons or explain the following statement:
Due to speedy transport supply increases.
Solution
The law of supply assumes that there is no change in transportation costs. However, if there is a change in transportation costs or transportation facilities, then the supply will change accordingly. For instance, if the transport facilities increase and there is speedy transportation available, then the commodities or the inputs can be made available within reasonable time at the same costs. Thus, speedy transportation will increase supply of the good.
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