Match List-I with List-II | List-I | List-II | |---|---| | (A) Perfect Competition | (I) No change in equilibrium price | | (B) Increase in Demand= Decrease in Supply | (II) Price taking Behavior | | (C) Increase in Demand Decrease in Supply | (III) Decrease in equilibrium price | | (D) Increase in Supply Decrease in Demand | (IV) Increase in equilibrium price | Choose the correct answer from the options given below:

Question

Match List-I with List-II | List-I | List-II | |---|---| | (A) Perfect Competition | (I) No change in equilibrium price | | (B) Increase in Demand= Decrease in Supply | (II) Price taking Behavior | | (C) Increase in Demand > Decrease in Supply | (III) Decrease in equilibrium price | | (D) Increase in Supply > Decrease in Demand | (IV) Increase in equilibrium price | Choose the correct answer from the options given below:

Option 1: (A) - (II), (B) - (I), (C) - (IV), (D) - (III)

Option 2: (A) - (I), (B) - (III), (C) - (II), (D) - (IV)

Option 3: (A) - (I), (B) - (II), (C) - (IV), (D) - (III)

Option 4: (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

AfterBoards · Accepted Answer

The answer is '(A) - (II), (B) - (I), (C) - (IV), (D) - (III)'. View full solution:

List-I	List-II
(A) Excess demand	(I) Supernormal profits
(B) Excess supply	(II) Perfect competition
(C) Entry of new firms in the market	(III) Price tends to fall
(D) Price taker	(IV) Price tends to rise

List-I	List-II
(A) Upper limit on price of goods & services	(I) Leads to excess supply.
(B) Free entry and exit	(II) Equilibrium price = min AC of the firms.
(C) Marginal revenue product of labor (MRP_L)	(III) Leads to excess demand.
(D) Lower limit on price of goods & services	(IV) MR x MP_L.

CUET Economics 2025 29 May Shift 1 PYQs

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