Micro Economics MCQ (GK Set-1) with Answers

there is a shortage (i.e. an excess demand) and the price will fall.

the quantity demanded is equal to the quantity supplied and the price remains unchanged.

there is a surplus (i.e. an excess supply) and the price will rise

there is a shortage (i.e. an excess demand) and the price will rise.

an increase in the equilibrium price and quantity.

an increase in the equilibrium price and a decrease in the equilibrium quantity.

a decrease in the equilibrium price and an increase in the equilibrium quantity.

a decrease in the equilibrium price and quantity.

an increase in the equilibrium price and quantity.

a decrease in the equilibrium price and an increase in the equilibrium quantity.

a decrease in the equilibrium price and quantity

an increase in the equilibrium price and a decrease in the equilibrium quantity.

the equilibrium quantity to rise and the equilibrium price to rise

the equilibrium quantity to rise and the equilibrium price to remain constant

the change in the equilibrium quantity to be ambiguous and the equilibrium price to rise.

the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous

the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall.

the equilibrium quantity to rise and the equilibrium price to rise

the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.

the equilibrium quantity to rise and the equilibrium price to fall