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Question
Other factors remaining constant, when price of a commodity rises, there is _______ of supply.
Other factors remaining constant, when price of a commodity rises, there is _______ of supply.
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Solution
The correct option is A extension
Extension of supply: When the price of a commodity increases
its quantity supplied also increases it is called the extension of supply.
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Extension of supply: When the price of a commodity increases its quantity supplied also increases it is called the extension of supply.
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