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DA: DETERMINATION OF EQUILIBRIUM PRICE

Authored by Mrs Paul

Other

11th Grade

Used 2+ times

DA: DETERMINATION OF EQUILIBRIUM PRICE
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4 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price at which market demand is equal to market supply

a. market price

b. equilibrium price

c. Both a & b

d. none of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The quantity demanded and supplied at the equilibrium price is

equilibrium quantity

market demand

market supply

quantity demanded and supplied

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a situation of excess supply, market price tends to ________.

increase
remain constant
decrease

None of the above.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the prevailing price is less than the equilibrium price, the market demand will be _____ than the market supply.

equal to
greater than
less than
none of the above

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