Larger quantity of the commodity at an increased price
Larger quantity of the commodity due to increased taxation on that commodity
Larger quantity of the commodity at the same price
Larger quantity of the commodity at the decreased price
Answer is Right!
Answer is Wrong!
The correct answer is: C. Larger quantity of the commodity at the same price.
Expansion in supply refers to a situation when the producers are willing to supply a larger quantity of a good or service at the same price. This can happen for a number of reasons, such as:
- A decrease in the cost of production.
- An increase in the demand for the good or service.
- An increase in the number of producers in the market.
Expansion in supply is a good thing for consumers, as it leads to lower prices and a wider variety of goods and services to choose from.
Option A is incorrect because it refers to a decrease in supply, not an increase.
Option B is incorrect because it refers to a decrease in demand, not an increase.
Option D is incorrect because it refers to a decrease in price, not an increase.