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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 same quantity is supplied at a higher price, it shows:
  • A
    Contraction in supply.
  • ✓
    Decrease in supply.
  • C
    Expansion in supply.
  • D
    Increase in supply.
✓

Answer

Correct option: B.
Decrease in supply.

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