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Question
When does a 'decrease' in supply take place?
When does a 'decrease' in supply take place?
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Solution
Decrease in supply takes place when the change in supply is brought about by factors other than the commodity's own price. This can be due to other determinants like technological changes, prices of inputs, and prices of other goods.
Decrease in supply takes place when the change in supply is brought about by factors other than the commodity's own price. This can be due to other determinants like technological changes, prices of inputs, and prices of other goods.
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