MEDIUM
12th CBSE
IMPORTANT
Earn 100

Compare the effect of the shift in the demand curve on the equilibrium when the number of firms in the market is fixed with the situation when entry-exit is permitted.

Important Questions on Market Equilibrium

MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 16
Explain through a diagram the effect of a rightward shift of both the demand and supply curves on equilibrium price and quantity.
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 17
How are the equilibrium price and quantity affected when both demand and supply curves shift in the same direction?
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 18
How are the equilibrium price and quantity affected when demand and supply curves shift in opposite directions?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 19
In what respect do the supply and demand curves in the labour market differ from those in the goods market?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 20
How is the optimal amount of labour determined in a perfectly competitive market?
MEDIUM
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 21
How is the wage rate determined in a perfectly competitive labour market?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 22
Can you think of any commodity on which price ceiling is imposed in India? What may be the consequence of price-ceiling?
HARD
12th CBSE
IMPORTANT
Introductory Microeconomics>Chapter 5 - Market Equilibrium>Q 23
A shift in the demand curve has a larger effect on price and a smaller effect on quantity when the number of firms is fixed compared to the situation when free entry and exit are permitted. Explain.