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difference between increase and extension in …

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difference between increase and extension in supply

    • Posted by Banke Bihari Pandey 5 years, 11 months ago

    CBSE > Class 12 > अर्थशास्त्र
    • 1 answers

    Sia ? 3 years, 5 months ago

    Extension in supply refers to the increase in quantity supplied due to the increase in prices whereas contraction in supply refers to the decrease in quantity supplied due to the decrease in prices. A movement along a supply curve only occurs when the price changes, ceteris paribus.

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