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The theory of the firm under perfect competition — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsThe theory of the firm under perfect competition1 Mark
MCQ
Contraction of supply is the result of:
  • A
    Decrease in the number of producers.
  • ✓
    Decrease in the price of the goods concern.
  • C
    Increase in the prices of other goods.
  • D
    Decrease in the outlay of sellers.
✓

Answer

Correct option: B.
Decrease in the price of the goods concern.

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