At prices above the equilibrium price:

Related MCQs

• Wages and prices do not adjust quickly to restore general equilibrium is a property of
• When both the price of a substitute and the price of complement of X rises, the demand for X:
• If the percentage increase in the quantity demanded of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is
• Which one of the following elasticities takes the average of prices and quantities:
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• A consumer reaches equilibrium when
• Cardinal utility analysis to consumer equilibrium was developed by
• LM curve shows the equilibrium condition in ---------- market
• The equilibrium in the product market is represented by which curve?