Distinguish between change in quantity supply …
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Sia ? 4 years, 5 months ago
Change in Supply
Qx=f(Pˉx,Py,Pi,T,G,GF,NF)
It is represented as
Qx=f(Px,Pˉy,Tˉ,Pˉi,Gˉ,Gˉf,NˉF)
It results in a movement of the supply curve of the firm which can be upward or downward.
1) Increase in Supply
2) Decrease in Supply
The following are its types:
1) Expansion of Supply
2) Contraction of Supply
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