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The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsThe theory of the firm under perfect competition1 Mark
Question
When same quantity is supplied at a higher price, it shows:
  1. Contraction in supply.
  2. Decrease in supply.
  3. Expansion in supply.
  4. Increase in supply.
✓

Answer

  1. Decrease in supply.

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