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The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsThe theory of the firm under perfect competition1 Mark
Question
Contraction of supply is the result of:
  1. Decrease in the number of producers.
  2. Decrease in the price of the goods concern.
  3. Increase in the prices of other goods.
  4. Decrease in the outlay of sellers.
✓

Answer

  1. Decrease in the price of the goods concern.

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