Decrease in the number of consumers causes: - Vidyadip

MCQ

Decrease in the number of consumers causes:

A
equilibrium price to rise
✓
equilibrium price to fall
C
no change in equilibrium price
D
none of these

✓

Answer

Correct option: B.

equilibrium price to fall

(b)

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "M.C.Q (1 Marks)" from MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY→MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Homogenous product means products are:

The reason behind a rightward or outward shift of $\text{PPC}$ could be:

From the set of statements given in Column I and Column II, choose the correct pair of statements:

Column I	Column II
A. Microeconomics	(i) Deals with the aggregates at the level of the economy as a whole
B. Choice	(ii) Process of selection from available limited alternatives
C. Positive economics	(iii) Involves value judgment
D. Normative statements.	(iv) Statements as based on facts and figures related to past, present or future

The consumer is in equilibrium at a point where the budget line

Supply schedule shows $......$ relationship between price and quantity supplied of a commodity. Hint: Supply schedule depicts direct $($i.e. positive$)$ relationship between price and quantity supplied of a commodity, i.e. if price increases, supply of a commodity also increases.

Availability of close substitutes makes the demand:

"Identify the correct sequence of alternatives given in Column II by matching them with respective items in Column I:

Column I	Column II
A. Long run production function	(i) $TP _n- TP _{ n -1}$
B. Short period	(ii) So long as $MP > AP$
C. Marginal product	(iii) Production capacity remains constant
D. Total Product	(iv) Factor ratio does not change with change in the volume of output

Reason for the $U-$shape of $MC$ curve is:

If Marginal Rate of Substitution is constant throughout, the Indifference curve will be:

What happens to ATC when MC > ATC?