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    Match List-I with List-II:List–I (Characteristic)List–II (Implication)(A) Equilibrium(I) Plans of all the consumers and firms in the market match(B) E
    Question

    Match List-I with List-II:

    List–I (Characteristic)
    List–II (Implication)
    (A) Equilibrium
    (I) Plans of all the consumers and firms in the market match
    (B) Excess supply
    (II) Demand decreases with an increase in income
    (C) Inferior good
    (III) Supply is greater than market demand
    (D) Price ceiling
    (IV) Imposition of upper limit by government

    Choose the correct answer from the options given below:

    A.

    (A) - (I), (B) - (II), (C) - (III), (D) - (IV)

    B.

    (A) - (I), (B) - (III), (C) - (II), (D) - (IV)

    C.

    (A) - (I), (B) - (II), (C) - (IV), (D) - (III)

    D.

    (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

    Correct option is B

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