A producer will change supply of a product only when there is a change in the price of given product.

A producer will change supply of a product only when there is a change

1.	A producer will change supply of a product only when there is a change in the price of given product.
Answer» <html><body><p></p>Solution :The given statement is <a href="https://interviewquestions.tuteehub.com/tag/incorrect-499101" style="font-weight:bold;" target="_blank" title="Click to know more about INCORRECT">INCORRECT</a>. Producer will <a href="https://interviewquestions.tuteehub.com/tag/also-373387" style="font-weight:bold;" target="_blank" title="Click to know more about ALSO">ALSO</a> change the supply if there is change in other factors, like change in price of factors of production, change in state of <a href="https://interviewquestions.tuteehub.com/tag/technology-13200" style="font-weight:bold;" target="_blank" title="Click to know more about TECHNOLOGY">TECHNOLOGY</a>, change in taxation <a href="https://interviewquestions.tuteehub.com/tag/policy-602125" style="font-weight:bold;" target="_blank" title="Click to know more about POLICY">POLICY</a>, etc.</body></html>