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If equilibrium price of a good is greate...

If equilibrium price of a good is greater than its market price, explain all the changes that will take place in the market. Use diagram.
OR
Explain the changes that will take place in the market when market price of a good is less than its equilibrium price. Use diagram.

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Explain the changes that will take place in the market when market price of a good is greater than its equilibrium price. Use diagram.

RADHA BHUGANA-PRICE DETERMINATION-LATQ
  1. How is equilibrium price of a commodity determined? Explain with the h...

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  2. If at a given price of a commodity, there is excess demand, how will t...

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  3. Explain with the help of a diagram the effect of a rightward shift of ...

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  4. How does an increase in demand of a commodity affect its equilibrium p...

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  5. Explain the effect of a leftward shift of demand curve of a commodity ...

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  6. Market for a good is in equilibrium. Demand for the good 'increases'. ...

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  7. 'Equilibrium price does not change due to simultaneous shifts in dema...

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  8. Market for a good is in equilibrium. There is 'increase' in supply of ...

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  9. If equilibrium price of a good is greater than its market price, expla...

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  10. What is 'excess demand' for a good in a market ? Explain its chain of ...

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  11. Market for a good is in equilibrium. Supply of the good 'decreases'. E...

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  12. Market of a commodity is in equilibrium. Demand for the commodity ''de...

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  13. Market for a good is in equilibrium. Demand for the good 'increases'. ...

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  14. Market for a good is in equilibrium. The supply of good decreases. Exp...

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  15. Market for a good is in equilibrium. Demand for the good 'increases'. ...

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  16. Good Y is a substitute of good X. The price of Y falls. Explain the ch...

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  17. Explain the chain of effects of excess supply of a good on its equilib...

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  18. X and Y are complementary goods. The price of Y falls. Explain the cha...

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  19. Explain the meaing of excess demand and excess supply with the help of...

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  20. State whether the following statements are true or false. Give reasons...

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