In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then,
A) Price will rise
B) Quantity rises
C) Price remains same
D) Price will fall
Correct Answer:
Verified
Q1: If equilibrium price rises but equilibrium quantity
Q2: A decrease in demand causes the equilibrium
Q3: Price of a product is determined in
Q5: Every factor of production gets reward equal
Q6: Under perfect competition, demand for a factor
Q7: We should employ units of a factor
Q8: If marginal product of labour rises because
Q9: Increasing the minimum wage for workers will:
A)Sole
Q10: The price of capital is
A)money
B)Interest
C)profits
D)wages
Q11: If MRP > Price of the factor:
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents