From the position of stable equilibrium, the market supply of a commodity decreases, while the market demand remains unchanged, then:

Related MCQs

• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is:
• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is:
• Relation between price of a commodity and demand for another commodity is measured by:
• If the supply curve of the commodity is having a positive slope, a rise in the price of the commodity, results in:
• The market equilibrium for a commodity is determined by :
• If the income elasticity of demand is greater than one, then the commodity is:
• An increase in market demand, supply remaining the same results in
• A fall in the market demand, supply remaining the same results in
• When an individual’s income rises, when everything else remains the same, his demand for normal goods:
• When an individual’s income falls, when everything else remains the same, his demand for inferior goods: