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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
Question
What is meant by decrease in supply?
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Answer

When supply of a commodity decreases due to unfavourable changes in factors other than price, it is called decrease in supply. In this situation, supply curve shifts leftward.

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