CUET Economics 2025 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. (C) The demand curve shifts rightward. (D) There is upward pressure on the price and price starts rising. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Economics 2025 16 May Shift 1

Micro

Medium

(A), (B), (C), (D)

(C), (A), (B), (D)

(C), (A), (D), (B)

(C), (B), (D), (A)

✅ Correct Option: 2

Related questions:

30 May Shift 1

Arrange the stages of price determination in a perfect competition market:

(A) Estimate the market demand and supply.

(B) Firms adjust production to maximize profit.

(D) Short-run profit attracts new firms.

Choose the correct answer from the options given below:

16 May Shift 1

Match List-I with List-II

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

Choose the correct answer from the options given below:

28 May Shift 2

When Government fix the minimum price of any commodity this move of government is known by:

CUET Economics 2025 16 May Shift 1 PYQs