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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 competition2 Marks
Question
'Developing countries have constraints'. Do you agree?
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Answer

This is true that developing countries have supply constraints. Supply is limited due to underdeveloped technology, inadequate transportation and infrastructural facilities and scarce resources etc. Producers are willing to increase supply but do not have the resources to do so.

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