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13-05-2024
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18. Describe the exceptions of law of supply.

Answer :

GinnyAnswer GinnyAnswer

13-05-2024

Final answer:

Exceptions to the traditional law of supply and demand in economics.

Explanation:

Exceptions of the law of supply refer to situations where the traditional principles of supply and demand do not apply as expected. One exception is when commodities are artificially limited in supply by monopolists, allowing them to control prices. Another exception occurs when the laws of demand and supply are not held equal, leading to fluctuations that defy the standard rules.

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