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LoginHow is the supply of commodity affected by an increase in price of other related goods.Explain?
Economy Secondary School in Economy 8 months ago
Answer:
On the other hand, an INCREASE in price of any input used in PRODUCTION of a commodity increases cost of production per unit and decreases supply of the commodity. (iv) Price of other related GOODS: Supply of a commodity is also INFLUENCED by the price of other related goods.
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Posted on 20 Nov 2024, this text provides information on Economy related to Secondary School in Economy. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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