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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 competition3 Marks
Question
'Developing countries have constraints'. Do you agree?
✓

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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