When Government fixes price at a lower level than the equilibrium price, the supply
Equals demand
Exceeds demand
Falls short of demand
None of these
Above the equilibrium price,
S
S>D
S=D
D
When demand and supply fall proportionately, equilibrium price will
Increase
Decrease
Remain unchanged
Changes in quantity demanded occur
Only when price changes
Due to change of taste
Both A and B
Changes in price
The equilibrium price will not change when increase in supply is
Less than the increase in demand
Greater than the increase in demand
Equal to the increase in demand
Which of the following determines price of a commodity in a market?
Demand
Supply
Both a & b
Price
The support price fixed by Government is generally
Equal to the equilibrium price
Lower than the equilibrium price
Higher than the equilibrium price
Equilibrium price
When supply increases at a rate higher than the rate at which demand increases, then the price will
Remains constant
At the point of equilibrium,
Only one price prevails
Quantity demanded = quantity supplied
The demand curve intercepts the supply curve
All the above
The equilibrium price will fall if increase in supply is
Equal to the increase in demand.
