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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
MCQ
When less quantity is supplied at a lower price, it shows:
  • ✓
    Contraction in supply.
  • B
    Decrease in supply.
  • C
    Expansion in supply.
  • D
    Increase in supply.
✓

Answer

Correct option: A.
Contraction in supply.

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