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CBSE Class 11-commerce Answered

Difference between extension in supply and increase in supply
Asked by mugdhapandya2008 | 14 Mar, 2020, 09:36: PM
answered-by-expert Expert Answer
Increase in supply refers to a rise in the supply of a commodity due to any other factor other than the own price of a commodity. As a result there will be a shift in the supply to thr right. 
Reason decrease in taxes
 
Extension in supply is when the quanitity supplied rises due to an increase in the price, keeping other factors contant.  As a result there is a movement upward along the supply curve. 
Reason: Increase in price.
Answered by Christina | 16 Mar, 2020, 10:29: AM

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