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» Solution :The given statement is INCORRECT. Producer will ALSO change the supply if there is change in other factors, like change in price of factors of production, change in state of TECHNOLOGY, change in taxation POLICY, etc.