A reduction in the number of producers will result in equilibrium price

Related MCQs

• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?
• A shift outward in supply curve will result in equilibrium price
• The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price
• Which of the following is correct for a price floor set above the equilibrium price?
• Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price?
• If the price of burger rises from `12 per piece to `20 per piece as a result of which the daily sales decreases from 300 to 200 pieces per day. The price elasticity of demand can be estimated as
• If the price of vegetable sandwich rises from `6 per piece to `12 per piece as a result of which the daily sales decreases from 800 to 400 pieces per day. The price elasticity of demand can be estimated as
• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is