In order to protect the interest of the producers, the Government may fix for commodities
Equilibrium price
Minimum price
Normal price
None of these
The price at which demand and supply are equal is called
Support price
Money price
In the long period, supply can be changed by changing
All factors change
Only variable factor changes
Only fixed factor changes
Variable and fixed factor
When demand and supply fall proportionately, equilibrium price will
Increase
Decrease
Remain unchanged
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
The support price fixed by Government is generally
Equal to the equilibrium price
Lower than the equilibrium price
Higher than the equilibrium price
The price theory is otherwise called as
Macro Economic Theory
Micro Economic Theory
Monetory Theory
Price theory
Above the equilibrium price,
S
S>D
S=D
D
Changes in quantity demanded occur
Only when price changes
Due to change of taste
Both A and B
Changes in price
When Government fixes price at a lower level than the equilibrium price, the supply
Equals demand
Exceeds demand
Falls short of demand
