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The rise in supply due to rise in price is called:
Increase in supply
Decrease in supply
Extension of supply
None of these
- Increase in supply: This refers to a shift in the supply curve to the right. It's not necessarily related to a rise in price but to factors like technological improvements or reduced production costs.
- Decrease in supply: This happens when the supply curve shifts to the left, often due to factors like increased production costs or environmental restrictions, not due to price changes.
- Extension of supply: This occurs when there's a movement along the supply curve due to a rise in price. As the price goes up, the quantity supplied increases.
- None of these: This option would be selected if none of the above definitions matched, but here it’s unnecessary.
By: santosh ProfileResourcesReport error
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