CUET Economics 2025 2 June Shift 1 PYQs

Minimum support price of a foodgrain is the example of _______

The price elasticity of demand is different at different points on the linear demand curve. Arrange the elasticity point on a downward sloping (left to right) demand curve.

(A). |ed| < 0

(B). |ed| = 1

(C). |ed| > 1

(D). |ed| < 1

Choose the correct answer from the options given below:

The market determined price of a good is Rs. 40.The government determines the price ceiling on the good as Rs. 25. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd= 200 – p and Qs=120+ p respectively.