If the government fixed maximum price of product below the market price then product will have? Option 1: Increased Supply. Option 2: Constant Demand. Option 3: Excess Demand. Option 4: Decreased Demand.

The answer is 'Excess Demand.'. View full solution:

CUET Economics - If the government fixed maximum price of product below the market price then product will have? | PYQs + Solutions

CUET Economics 2025 3 June Shift 2

Micro

Easy

Increased Supply.

Constant Demand.

Excess Demand.

Decreased Demand.

✅ Correct Option: 3

Related questions:

27 May Shift 2

Let us consider a linear demand curve $q = a - bp$ . On the same demand curve, arrange the elasticity in ascending order.

(A) $|e_D| = 1$ .

(B) $|e_D| < 1$ .

(D) $|e_D| = 0$ .

Choose the correct answer from the options given below:

28 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Price elasticity of demand will be equal to1	(I) When expenditure increases with a rise in price.
(B) Price elasticity of demand will be equal to 0	(II) When expenditure decreases with a rise in price.
(C) Price elasticity of demand will be more than 1	(III) When the quantity demanded doesn't change with the change in price.
(D) Price elasticity of demand will be less than1	(IV) When expenditure doesn't change with the change in price.

Choose the correct answer from the options given below:

2 June Shift 1

When will increase in supply bring down the price, leaving the quantity demanded unchanged?