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What is Contraction of Supply?

+3 votes

asked Mar 28, 2019 in Class 12 by kratos

What is Contraction of Supply?

class-12
cbse
supply and elasticity of supply

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1 Answer

+6 votes

answered Apr 22, 2020 by kratos

Best answer

When a fall in the price of a commodity leads to decrease in quantity supplied of a commodity, it is called Contraction of Supply.

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