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MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY1 Mark
MCQ
Statement 1: Due to a decrease in input price, equilibrium quantity falls.
Statement 2: A decrease in price of a complementary good causes a fall in equilibrium price of the concerned commodity.
  • A
    Both the statements are true
  • ✓
    Both the statements are false
  • C
    Statement 1 is true and Statement 2 is false
  • D
    Statement 2 is true and Statement 1 is false
✓

Answer

Correct option: B.
Both the statements are false
B

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