When Government fix the minimum price of any commodity this move of government is known by: Option 1: Price Ceiling. Option 2: Price Discrimination. Option 3: Floor Price. Option 4: Price Rigidity.

The answer is 'Floor Price.'. View full solution:

CUET Economics - When Government fix the minimum price of any commodity this move of government is known by: | PYQs + Solutions

CUET Economics 2025 28 May Shift 2

Micro

Easy

Price Ceiling.

Price Discrimination.

Floor Price.

Price Rigidity.

✅ Correct Option: 3

Related questions:

16 May Shift 1

Suppose the Income of consumers in a market increase. How will this effect the equilibrium price of the commodity, assuming that it is a normal good?

(A) There is excess demand at the existing price.

(B) Rising price leads to contraction in demand and expansion in supply and a new equilibrium price is attained, which is higher than the initial price.

(D) There is upward pressure on the price and price starts rising.

Choose the correct answer from the options given below:

3 June Shift 1

Which of the following is true about the relationship between Total Revenue (TR) and Marginal Revenue (MR) in a perfectly competitive market?

(A) Total Revenue will increase at a constant rate.

(B) Marginal Revenue is more than Average Revenue.

(D) Marginal Revenue is equal to Average Revenue.

Choose the correct answer from the options given b-elow:

22 May Shift 1

Arrange a statement of market equilibrium when the demand curve shifts leftward:

(A). The shift indicates that at any price the quantity demanded is less than before.

(B). Some firms will reduce the price of their commodity so that they can sell their desired quantity.

(C). Excess supply will arise.

(D). At the new equilibrium, quantity and price will be less than before.

Choose the correct answer from the options given below:

CUET Economics 2025 28 May Shift 2 PYQs

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