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Market for good X is in equilibrium. Sup...

Market for good X is in equilibrium. Suppose price of its substitute good Y falls.. Explain its effect on equilibrium price and quantity of good X. Use diagram.

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SK AGGARWALA-PERFECT COMPETITION-Some important qns
  1. Explain the following features of perfect competition : (i) Larger n...

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  2. What is meant by equilibrium price?

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  3. Explain the chain the of effects on demand , supply and price of a co...

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  4. Explain the chages that take place when, at a given price of a commod...

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  5. A product market is in equilibrium. Suppose the demand for the product...

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

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

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  8. How is equilibrium price and equilibrium quantity of a normal commodit...

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  9. How will an increase in the income of the buyers of an 'inferior good'...

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  10. Explain the determination of price under perfect competition with the ...

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

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  12. Why must the quantity demanded and quantity supplied of a commodity be...

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  13. How is the equilibrium price of good determined? Explain with the help...

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  14. Market for a good is in equilibrium. What is the effect on equilibrium...

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  15. Market for good X is in equilibrium. Suppose price of its substitute g...

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  16. Giving reasons, state whether the following statement are true or fals...

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  17. Cigarette smoking is injurious to health. How can the government reduc...

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  18. Market for a necessary good is competitive in which the existing firms...

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  19. Why can a firm not earn abnormal profits under perfect competition in...

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  20. If there is excess supply at a given price, then how will the equilibr...

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