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Adobe Scan 08-Jan-2025 (1)

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sougatamondal88302
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FIGURE

Extension of Supply

c t i o

yunit

& y e Ctyppla
e e e

In Table 4, when price of the commodity-X is1 per unit, its quantity
supplied is 1 unit When price rises to 5 per unit, supply extends to
5 units. In Fig 5, S is the supply curve of commodity-X. When price is
t1 per unit, supply is 1 unit. When price rises to 5 per unit, supply
extends to 5 units. The producer moves from point A to point B
on the same supply curve. Thus, movement from the lower point to
the higher point on the same supply curve is known as extension of
supply
Contraction of Supply
Other things being equal, when quantity supplied of a commodity
decreases due to fall in its own price, it is called contraction of supply.
It is shown in Table 5 and Fig.
Table 5. Contraction of Supply
Descriptior
(Unit1)
Fall in Owt Price of the
Comnotity

Contraction of Supply

Theory of Spphy 285

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