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Question

What type of relationship exists between the price and quantity supplied?


A

No relationship

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B

Negative

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C

Positive

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D

Constant

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Solution

The correct option is C

Positive


The Law of Supply gives the relationship between the price of a commodity and its supply. According to this law, other things being equal, the quantity of a commodity supplied varies directly with its price. Hence, the relationship between price and supply is positi


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