1.

Which of thefollowingstatement is notvaildwith repect to 'Law of Supply'

Answer»

indicate the magnitute of CHANGE in supply due to change in demand.
states one sided between price and quantity supplied.
does not establish proportional RELATIONSHIP between change in price and change in supply.
states the DIRECT RELATION between price and quantity supplied.

Solution :law of supply does not indicate the MAGNITUDE of change in supply due to the change in price.


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