CUET Economics 2025 30 May Shift 1Micro > EasyFall in price of the given commodity.rise in the price of Substitute goods.Rise in price of the given commodity.fall in the price of Substitute goods.✅ Correct Option: 1Related questions:2 June Shift 1Which of the following is a demerit of price ceiling? (A) Black Marketing. (B) Stability of income of producers. (C) Low quality product is offered to consumer. (D) Standing in long queues to get allocated quota of the commodity. Choose the correct answer from the options given below:30 May Shift 1Match List-I with List-II Change in Demand or SupplyEffect on equilibrium price / equilibrium quantity(A) Increase in demand > Increase in supply(I) equilibrium price will rise but no change in equilibrium quantity.(B) Increase in supply when demand is perfectly inelastic(II) No change in equilibrium price.(C) Same proportion of increase in demand and supply(III) equilibrium price will fall but no change in equilibrium quantity.(D) Increase In demand when supply is perfectly inelastic(IV) equilibrium price and quantity will rise. Choose the correct answer from the options given below:30 May Shift 2How government intervention through price control policy will have an impact on the market? (A) The government imposed lower limit on the price that may be charged (B) For certain goods and services, a fall in price below a particular level is not desirable (C) Thereby leading to an excess supply in the market (D) Government needs to buy the surplus at the predetermined price Choose the correct answer from the options given below: