Question 32 of 33
Q.Distinguish between:
Extension in supply and Contraction in supply.
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2020Subjective· 2mImportance★★★★★
97% · 32/33 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →Extension = more supplied when price rises; contraction = less supplied when price falls — both along the same curve.
| Basis | Extension in supply | Contraction in supply |
|---|---|---|
| Meaning | Rise in quantity supplied due to a rise in price | Fall in quantity supplied due to a fall in price |
| Cause | Increase in the price of the commodity | Decrease in the price of the commodity |
| Movement | Upward movement along the same supply curve | Downward movement along the same supply curve |
| Other factors | Remain constant | Remain constant |
| … |
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.