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Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMarket Equilibrium1 Mark
Question
Under what condition, equilibrium price will increase and equilibrium quantity will decrease?
  1. Increase in supply.
  2. Decrease in supply.
  3. Increase in demand.
  4. Decrease in demand.
✓

Answer

  1. Decrease in supply.

Explanation:

Demand curve remain unchanged, if there is a decrease in supply, supply curve and equilibrium point will shift leftwards. As a result, equilibrium price will increase and equilibrium quantity will decrease

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