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Question
Which of the following case occurs with downward movement along a supply curve?
Which of the following case occurs with downward movement along a supply curve?
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Solution
The correct option is D Contraction of supply
Contraction of supply means a downward movement along the same supply curve, but a decrease in supply leads to the leftward shift of the entire supply curve.
Contraction of supply
Contraction of supply means a downward movement along the same supply curve, but a decrease in supply leads to the leftward shift of the entire supply curve.
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