If a farmer grows rice and wheat, how will a decrease in the pric… - Vidyadip

Question

If a farmer grows rice and wheat, how will a decrease in the price of wheat affect the supply curve of rice?

✓

Answer

Supply curve of rice will shift to the right.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from The theory of the firm under perfect competition→The theory of the firm under perfect competition — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

State any one feature of oligopoly.

Define budget line.

Give the meaning of ‘inelastic demand’.

A producer borrows money to run a business but manages the business himself. Identify implicit cost.

Define positive economics.

“An economy always produces on but not inside PPC". Defend or refute.

How is equilibrium price affected by increase in supply?

What is black market?

When does 'change in demand' take place?

What are the assumptions of the law of variable proportion?