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| 1. |
Explainthe distinction between "change inquantity supplied" and "change in supply". Use diagram. |
| Answer» Solution :Difference between CHANGE in supply and change in quantity supplied occurs due to CHANGES in factors AFFECTING supply. When price of the commodity supplied changes then there is change in quantity supplied. There is a movement along the same supply curve. It brings a change in only ONE SINGLE pair in the supply curve. | |