Assertion A: Equilibrium price of a commodity is the price at which the quantity demanded of the commodity equals the quantity supplied.
Reasoning R: Equilibrium is the condition, once determined, tends to persist in time.
Choose the right options:
1. Equilibrium price is determined where demand and supply meet.
2. Equilibrium conditions can change due to shifts in demand or supply (e.g., economic shocks, price changes).
While both statements are correct, equilibrium does not always persist over time, making (b) the correct answer.
English
10 Questions
20 Marks
12 Mins English English50 Questions100 Marks60 Mins English English10 Questions20 Marks12 Mins English| LIST-I Concept |
LIST-II Formula |
| A. Total Utility |
I. MU1+MU2+______MUn |
| B. Marginal Utility |
II. TUn−TUn−1 |
| C. Average Fixed Cost |
III. ΔTC/ΔQ |
| D. Marginal Cost |
IV. TFC/Q |
Assertion A: Equilibrium price of a commodity is the price at which the quantity demanded of the commodity equals the quantity supplied.
Reasoning R: Equilibrium is the condition, once determined, tends to persist in time.
Choose the right options:
Match the market forms in List I and the role of the selling costs in List II
Choose the correct answer from the options given below:
Which of the following relationships is true in a modal distribution?
Assertion (A): Firms opt for buying an asset if the equivalent annual cost of ownership and operation is less than the best lease rate it can get.
Reason (R): Operating leases are attractive to equipment users if the lease payment is less than the user's equivalent annual cost of buying the equipment.
Choose the most appropriate answer from the options given below:
‘Constraint Optimization’ is closer to which of the following objectives of a business firm?
Which of the following is correct?
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