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MICROECONOMICS CH : 11 THEORY OF SUPPLY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 11 THEORY OF SUPPLY1 Mark
Question
What is meant by contraction of supply?
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Answer

When a fall in own price of a commodity leads to decrease in quantity supplied of a commodity, it is called contraction of supply.

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