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Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMarket Equilibrium1 Mark
Question
With a given supply curve a decrease in demand causes ________.
  1. an overall decrease in price but an increase in equilibrium quantity.
  2. an overall increase in price but a decrease in equilibrium quantity.
  3. an overall decrease in price and a decrease in equilibrium quantity.
  4. no change in overall price but a reduction in equilibrium quantity.
✓

Answer

  1. an overall decrease in price and a decrease in equilibrium quantity.

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